Davis R M Inc. Has $456,000 Stake in The Boeing Company (NYSE:BA)

Davis R M Inc. lifted its position in shares of The Boeing Company (NYSE:BA) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,000 shares of the aircraft producer’s stock after buying an additional 231 shares during the period. Davis R M Inc.’s holdings in Boeing were worth $456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BA. Hobbs Group Advisors LLC bought a new position in shares of Boeing in the second quarter valued at about $34,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing during the 2nd quarter worth approximately $33,000. Cedar Wealth Management LLC acquired a new stake in Boeing in the third quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Boeing during the second quarter worth $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Benchmark reaffirmed a “buy” rating and set a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Susquehanna reduced their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Jefferies Financial Group reduced their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. reduced their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Robert W. Baird decreased their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has a consensus rating of “Hold” and a consensus price target of $190.11.

Boeing Price Performance

Shares of BA stock opened at $153.08 on Tuesday. The business has a 50-day moving average of $151.65 and a 200 day moving average of $168.08. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54. The stock has a market capitalization of $94.63 billion, a PE ratio of -11.87 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) earnings per share. Analysts anticipate that The Boeing Company will post -16.2 EPS for the current year.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.