Citizens Financial Group Inc. RI Grows Holdings in The Boeing Company (NYSE:BA)

Citizens Financial Group Inc. RI grew its stake in shares of The Boeing Company (NYSE:BA) by 11.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,252 shares of the aircraft producer’s stock after purchasing an additional 3,101 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Boeing were worth $5,688,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BA. Vermillion & White Wealth Management Group LLC bought a new position in Boeing in the 4th quarter worth about $26,000. Vima LLC purchased a new stake in shares of Boeing in the fourth quarter valued at approximately $34,000. Hobbs Group Advisors LLC bought a new position in Boeing in the second quarter worth approximately $34,000. McClarren Financial Advisors Inc. increased its holdings in Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares during the period. Finally, Accent Capital Management LLC bought a new stake in Boeing during the 4th quarter valued at $39,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Shares of BA stock opened at $155.54 on Tuesday. The Boeing Company has a fifty-two week low of $154.02 and a fifty-two week high of $267.54. The firm has a market capitalization of $95.48 billion, a price-to-earnings ratio of -43.81 and a beta of 1.57. The stock’s 50-day simple moving average is $173.49 and its 200-day simple moving average is $178.70.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the previous year, the business earned ($0.82) EPS. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. As a group, equities analysts forecast that The Boeing Company will post -4.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BA. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price target on shares of Boeing in a research note on Tuesday, June 25th. Robert W. Baird reduced their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Baird R W raised shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Sanford C. Bernstein cut their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Susquehanna restated a “positive” rating and set a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average target price of $211.29.

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.