Empirical Finance LLC Increases Stock Holdings in The Boeing Company (NYSE:BA)

Empirical Finance LLC increased its stake in The Boeing Company (NYSE:BA) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,466 shares of the aircraft producer’s stock after acquiring an additional 442 shares during the quarter. Empirical Finance LLC’s holdings in Boeing were worth $2,960,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in BA. Vanguard Group Inc. grew its holdings in shares of Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC raised its holdings in Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after acquiring an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after purchasing an additional 67,474 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of 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 purchasing an additional 1,251,456 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BA shares. Benchmark reissued a “buy” rating and set a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Wells Fargo & Company cut their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. TD Cowen dropped their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $190.37.

Boeing Stock Down 0.4 %

Shares of NYSE:BA opened at $137.60 on Friday. The Boeing Company has a fifty-two week low of $137.22 and a fifty-two week high of $267.54. The firm’s 50 day moving average price is $154.03 and its 200 day moving average price is $169.89.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned ($3.26) EPS. Analysts expect that The Boeing Company will post -16.09 EPS for the current fiscal year.

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.