Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in The Boeing Company (NYSE:BA)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of The Boeing Company (NYSE:BA) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,689 shares of the aircraft producer’s stock after purchasing an additional 7,298 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Boeing were worth $20,326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BA. Hobbs Group Advisors LLC acquired a new position in Boeing in the second quarter valued at $34,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Boeing in the third quarter valued at approximately $28,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing during the second quarter worth approximately $33,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing in the 3rd quarter valued at $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Up 2.1 %

Shares of BA stock opened at $155.65 on Friday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $267.54. The business has a fifty day simple moving average of $151.48 and a 200-day simple moving average of $167.51. The stock has a market cap of $96.22 billion, a P/E ratio of -12.07 and a beta of 1.57.

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 business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The company’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($3.26) EPS. On average, sell-side analysts anticipate that The Boeing Company will post -16.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BA shares. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, October 15th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. cut their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $190.11.

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.