Metropolitan Life Insurance Co NY decreased its stake in The Boeing Company (NYSE:BA – Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,645 shares of the aircraft producer’s stock after selling 507 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Boeing were worth $5,204,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Davis R M Inc. boosted its position in Boeing by 50.2% in the second quarter. Davis R M Inc. now owns 2,888 shares of the aircraft producer’s stock valued at $610,000 after buying an additional 965 shares in the last quarter. Profund Advisors LLC boosted its holdings in shares of Boeing by 4.6% in the 2nd quarter. Profund Advisors LLC now owns 10,784 shares of the aircraft producer’s stock worth $2,277,000 after acquiring an additional 473 shares in the last quarter. Moran Wealth Management LLC increased its holdings in Boeing by 233.3% during the 2nd quarter. Moran Wealth Management LLC now owns 3,256 shares of the aircraft producer’s stock valued at $688,000 after purchasing an additional 2,279 shares in the last quarter. Trust Investment Advisors increased its stake in shares of Boeing by 4.9% in the second quarter. Trust Investment Advisors now owns 7,206 shares of the aircraft producer’s stock valued at $1,522,000 after buying an additional 336 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Boeing during the 2nd quarter worth about $338,000. Institutional investors and hedge funds own 61.33% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on BA shares. TD Cowen boosted their target price on shares of Boeing from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, August 28th. Jefferies Financial Group upped their price objective on Boeing from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Citigroup cut their price target on Boeing from $285.00 to $271.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Susquehanna restated a “positive” rating and set a $270.00 target price on shares of Boeing in a research report on Wednesday, September 13th. Finally, Bank of America upgraded shares of Boeing from a “neutral” rating to a “buy” rating and upped their target price for the company from $225.00 to $300.00 in a research report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.38.
Boeing Stock Performance
Shares of BA stock opened at $211.25 on Monday. The company’s 50 day moving average price is $193.74 and its two-hundred day moving average price is $208.53. The Boeing Company has a 52 week low of $171.00 and a 52 week high of $243.10. The company has a market capitalization of $127.80 billion, a P/E ratio of -44.26 and a beta of 1.48.
Boeing (NYSE:BA – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported ($3.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.21) by ($0.05). The business had revenue of $18.10 billion for the quarter, compared to analysts’ expectations of $18.01 billion. The company’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($6.18) EPS. Analysts forecast that The Boeing Company will post -5.6 earnings per share for the current year.
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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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