Balboa Wealth Partners Grows Stock Position in The Boeing Company (NYSE:BA)

Balboa Wealth Partners boosted its holdings in shares of The Boeing Company (NYSE:BA) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,233 shares of the aircraft producer’s stock after buying an additional 812 shares during the period. Boeing makes up about 0.6% of Balboa Wealth Partners’ holdings, making the stock its 29th largest holding. Balboa Wealth Partners’ holdings in Boeing were worth $2,316,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Boeing by 2.5% in the 1st 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 during the last quarter. Newport Trust Company LLC lifted its stake in Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after acquiring an additional 106,513 shares in the last quarter. Legal & General Group Plc raised its stake in Boeing by 2.0% in the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after buying an additional 67,474 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Boeing by 122.0% during 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 buying an additional 1,251,456 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

BA has been the subject of a number of analyst reports. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their price target on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Susquehanna lowered their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Stock Performance

Shares of NYSE:BA opened at $138.13 on Friday. The firm has a 50 day simple moving average of $154.03 and a 200 day simple moving average of $169.89. The Boeing Company has a 52 week low of $137.22 and a 52 week high of $267.54.

Boeing (NYSE:BA) last announced 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 company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($3.26) earnings per share. As a group, analysts expect that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

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.