Silicon Valley Capital Partners Purchases Shares of 978 The Boeing Company (NYSE:BA)

Silicon Valley Capital Partners acquired a new position in The Boeing Company (NYSE:BA) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 978 shares of the aircraft producer’s stock, valued at approximately $149,000.

Several other hedge funds and other institutional investors have also modified their holdings of BA. Lazari Capital Management Inc. raised its position in Boeing by 55.7% in the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after purchasing an additional 8,309 shares during the period. Czech National Bank raised its holdings in shares of Boeing by 8.4% during the 3rd quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after buying an additional 9,281 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new position in Boeing during the 3rd quarter worth approximately $11,237,000. Sanctuary Advisors LLC purchased a new position in Boeing in the 2nd quarter worth approximately $21,405,000. Finally, Van ECK Associates Corp grew its position in Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after acquiring an additional 1,251,456 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

Boeing stock opened at $153.88 on Monday. The Boeing Company has a one year low of $146.02 and a one year high of $267.54. The company has a 50-day simple moving average of $157.46 and a 200-day simple moving average of $171.01. The firm has a market capitalization of $95.13 billion, a P/E ratio of -12.03 and a beta of 1.57.

Boeing (NYSE:BA) last posted its 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 business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The company’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted ($3.26) EPS. As a group, sell-side analysts forecast that The Boeing Company will post -16.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, October 15th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. TD Cowen cut their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Citigroup lowered their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $190.37.

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.