Brooklyn Investment Group Has $316,000 Position in The Boeing Company (NYSE:BA)

Brooklyn Investment Group lessened its holdings in shares of The Boeing Company (NYSE:BA) by 9.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,081 shares of the aircraft producer’s stock after selling 223 shares during the period. Brooklyn Investment Group’s holdings in Boeing were worth $316,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cedar Wealth Management LLC acquired a new position in Boeing during the third quarter worth $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing during the 2nd quarter worth about $33,000. Hobbs Group Advisors LLC acquired a new position in Boeing in the second quarter valued at about $34,000. Harel Insurance Investments & Financial Services Ltd. grew 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 buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Boeing during the second quarter worth about $39,000. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 1.6 %

BA opened at $150.72 on Wednesday. The company’s fifty day moving average price is $151.53 and its two-hundred day moving average price is $167.88. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54. The company has a market cap of $93.18 billion, a price-to-earnings ratio of -11.68 and a beta of 1.57.

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

Analysts Set New Price Targets

A number of equities analysts have commented on BA shares. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research report on Tuesday, October 15th. TD Cowen lowered their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Robert W. Baird dropped their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Jefferies Financial Group decreased their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $190.11.

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.