The Boeing Company (NYSE:BA) Shares Purchased by SpiderRock Advisors LLC

SpiderRock Advisors LLC grew its stake in shares of The Boeing Company (NYSE:BA) by 49.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,115 shares of the aircraft producer’s stock after acquiring an additional 28,317 shares during the period. SpiderRock Advisors LLC’s holdings in Boeing were worth $13,093,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Madison Park Capital Advisors LLC increased its position in Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after purchasing an additional 56 shares during the period. Wealth Alliance Advisory Group LLC boosted its stake in Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after acquiring an additional 60 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock worth $294,000 after acquiring an additional 61 shares during the period. IMS Capital Management raised its position in shares of Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after acquiring an additional 62 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in shares of Boeing by 0.9% during the first quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock worth $1,459,000 after purchasing an additional 65 shares during the period. Institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on BA. Wells Fargo & Company cut their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Benchmark reissued a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Morgan Stanley dropped their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Robert W. Baird dropped their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $190.37.

Boeing Price Performance

Boeing stock opened at $151.77 on Friday. The company has a market cap of $93.82 billion, a price-to-earnings ratio of -11.77 and a beta of 1.57. The firm has a 50-day moving average of $155.31 and a 200-day moving average of $170.34. The Boeing Company has a one year low of $144.13 and a one year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned ($3.26) earnings per share. As a group, sell-side analysts expect that The Boeing Company will post -16.09 earnings per share for the current year.

Boeing Company 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.