Pingora Partners LLC Boosts Holdings in The Boeing Company (NYSE:BA)

Pingora Partners LLC lifted its stake in shares of The Boeing Company (NYSE:BA) by 10.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,186 shares of the aircraft producer’s stock after acquiring an additional 1,165 shares during the period. Boeing accounts for about 1.3% of Pingora Partners LLC’s investment portfolio, making the stock its 11th largest position. Pingora Partners LLC’s holdings in Boeing were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of BA. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing in the second quarter worth $34,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing during the third quarter worth about $28,000. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Boeing in the second quarter worth about $33,000. Cedar Wealth Management LLC acquired a new stake in shares of Boeing in the third quarter valued at about $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

Shares of BA stock opened at $155.04 on Wednesday. The firm has a market capitalization of $95.85 billion, a PE ratio of -12.02 and a beta of 1.56. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $267.54. The stock has a fifty day moving average of $151.47 and a two-hundred day moving average of $166.95.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the company earned ($3.26) EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -16.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group cut their price target on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company reduced their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. The Goldman Sachs Group reduced their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, TD Cowen cut their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Three investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $190.11.

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.