FORA Capital LLC Acquires New Holdings in The Boeing Company (NYSE:BA)

FORA Capital LLC bought a new position in shares of The Boeing Company (NYSE:BA) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 93,344 shares of the aircraft producer’s stock, valued at approximately $14,192,000. Boeing accounts for 1.7% of FORA Capital LLC’s holdings, making the stock its 3rd largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Newport Trust Company LLC raised its stake in shares of Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Boeing by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after purchasing an additional 277,350 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after purchasing an additional 67,474 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BA shares. 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 note on Thursday, October 24th. Wells Fargo & Company decreased their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Morgan Stanley dropped their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Susquehanna decreased their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $190.11.

Boeing Stock Performance

Shares of BA traded down $0.03 during trading hours on Wednesday, hitting $150.73. The stock had a trading volume of 938,117 shares, compared to its average volume of 9,165,089. The firm has a 50-day moving average price of $151.53 and a 200 day moving average price of $167.88. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $267.54.

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