U S Global Investors Inc. Acquires 6,885 Shares of The Boeing Company (NYSE:BA)

U S Global Investors Inc. raised its stake in shares of The Boeing Company (NYSE:BA) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,802 shares of the aircraft producer’s stock after acquiring an additional 6,885 shares during the period. Boeing comprises approximately 1.8% of U S Global Investors Inc.’s investment portfolio, making the stock its 18th largest holding. U S Global Investors Inc.’s holdings in Boeing were worth $18,823,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BA. Citigroup cut their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Morgan Stanley lowered their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Friday. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group decreased their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.79.

Boeing Stock Performance

Shares of NYSE BA traded down $0.26 during midday trading on Tuesday, hitting $159.56. 321,293 shares of the company traded hands, compared to its average volume of 8,047,738. The Boeing Company has a 12-month low of $146.02 and a 12-month high of $267.54. The stock has a 50-day moving average price of $161.01 and a 200 day moving average price of $172.28. The firm has a market cap of $97.95 billion, a P/E ratio of -45.02 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.82) EPS. As a group, equities analysts expect that The Boeing Company will post -5.35 earnings per share for the current year.

About Boeing

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.