Alpine Associates Management Inc. Invests $9.26 Million in The Boeing Company (NYSE:BA)

Alpine Associates Management Inc. purchased a new stake in The Boeing Company (NYSE:BA - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,900 shares of the aircraft producer's stock, valued at approximately $9,259,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new stake in Boeing during the 2nd quarter worth about $34,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing during the second quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Boeing by 351.1% during the second 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 in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Boeing in the 2nd quarter valued at approximately $39,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Boeing in the 1st quarter worth approximately $53,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Stock Up 0.0 %

BA traded up $0.03 during midday trading on Wednesday, hitting $145.63. The company had a trading volume of 5,715,939 shares, compared to its average volume of 9,169,043. The stock's 50 day moving average price is $152.53 and its 200 day moving average price is $168.95. The company has a market capitalization of $90.03 billion, a price-to-earnings ratio of -11.38 and a beta of 1.57. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $267.54.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $17.84 billion for the quarter, compared to analysts' expectations of $17.81 billion. Boeing's revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned ($3.26) EPS. Research analysts predict that The Boeing Company will post -16.2 EPS for the current year.

Analyst Upgrades and Downgrades

BA has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their target price on Boeing from $232.00 to $202.00 and set a "buy" rating on the stock in a research note on Tuesday, September 24th. Wells Fargo & Company cut their price objective on shares of Boeing from $86.00 to $85.00 and set an "underweight" rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group cut their price target on shares of Boeing from $270.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, September 23rd. Benchmark reissued a "buy" rating and set a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein downgraded Boeing from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $190.37.

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 Commercial Airplanes; Defense, Space & Security; and Global Services segments.