ICICI Prudential Asset Management Co Ltd Acquires 39,082 Shares of The Boeing Company (NYSE:BA)

ICICI Prudential Asset Management Co Ltd raised its position in shares of The Boeing Company (NYSE:BA) by 269.5% in the third quarter, HoldingsChannel reports. The firm owned 53,582 shares of the aircraft producer’s stock after acquiring an additional 39,082 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Boeing were worth $8,147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Madison Park Capital Advisors LLC raised its stake in Boeing by 4.9% during 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 raised its holdings in Boeing by 1.6% in the 2nd 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 boosted its position 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 purchasing an additional 61 shares during the period. IMS Capital Management grew its stake in shares of Boeing by 0.4% during the second 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 in the last quarter. Finally, ADE LLC grew its holdings in shares of Boeing by 4.4% during the second quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock valued at $280,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA stock traded down $1.94 on Wednesday, hitting $143.23. 5,989,155 shares of the stock traded hands, compared to its average volume of 9,060,481. The company’s fifty day moving average is $154.49 and its 200 day moving average is $170.11. The Boeing Company has a 1-year low of $141.75 and a 1-year high of $267.54. The company has a market capitalization of $88.54 billion, a PE ratio of -11.08 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 (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. During the same quarter last year, the business posted ($3.26) EPS. The business’s revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts expect that The Boeing Company will post -16.09 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BA shares. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. TD Cowen dropped their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. UBS Group decreased their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Susquehanna decreased their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $190.37.

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.