Jennison Associates LLC Has $1.02 Billion Stake in The Boeing Company (NYSE:BA)

Jennison Associates LLC raised its position in The Boeing Company (NYSE:BA - Free Report) by 9.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,700,706 shares of the aircraft producer's stock after purchasing an additional 602,143 shares during the quarter. Jennison Associates LLC owned about 1.08% of Boeing worth $1,018,775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hobbs Group Advisors LLC bought a new stake in Boeing during the second quarter worth approximately $34,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing in the 2nd quarter worth about $33,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of 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 acquiring an additional 165 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Boeing in the second quarter valued at $39,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Boeing in the first quarter worth $53,000. Institutional investors own 64.82% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on BA shares. Jefferies Financial Group lowered 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. Deutsche Bank Aktiengesellschaft decreased their target price on Boeing from $225.00 to $195.00 and set a "buy" rating for the company in a research note on Thursday, October 3rd. Sanford C. Bernstein lowered shares of Boeing from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Finally, TD Cowen reduced their price objective on shares of Boeing from $200.00 to $190.00 and set a "buy" rating for the company in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $190.37.

Boeing Stock Performance

NYSE BA traded up $0.48 during trading hours on Wednesday, hitting $146.08. 9,128,279 shares of the company traded hands, compared to its average volume of 9,175,868. The business's 50-day moving average is $152.53 and its 200-day moving average is $168.95. The stock has a market capitalization of $90.31 billion, a price-to-earnings ratio of -11.38 and a beta of 1.57. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts' consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the firm earned ($3.26) earnings per share. The company's revenue was down 1.5% compared to the same quarter last year. Analysts predict that The Boeing Company will post -16.2 EPS 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 Commercial Airplanes; Defense, Space & Security; and Global Services segments.