Oppenheimer Asset Management Inc. Raises Stake in The Boeing Company (NYSE:BA)

Oppenheimer Asset Management Inc. raised its position in shares of The Boeing Company (NYSE:BA - Free Report) by 98.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,662 shares of the aircraft producer's stock after buying an additional 24,625 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Boeing were worth $7,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazari Capital Management Inc. raised its stake in shares of Boeing by 55.7% in the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer's stock valued at $4,226,000 after acquiring an additional 8,309 shares in the last quarter. Patten & Patten Inc. TN raised its holdings in Boeing by 19.8% in the third quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer's stock valued at $3,741,000 after acquiring an additional 4,065 shares in the last quarter. Czech National Bank lifted its stake in Boeing by 8.4% in the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer's stock worth $18,130,000 after acquiring an additional 9,281 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Boeing by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,589,850 shares of the aircraft producer's stock worth $241,721,000 after acquiring an additional 35,068 shares in the last quarter. Finally, BSN CAPITAL PARTNERS Ltd purchased a new stake in shares of Boeing in the 3rd quarter valued at approximately $11,237,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Jefferies Financial Group lowered their target price on shares of Boeing from $270.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, September 23rd. DZ Bank lowered Boeing from a "buy" rating to a "hold" rating and set a $152.00 target price on the stock. in a research report on Tuesday, October 15th. The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a "buy" rating on the stock in a report on Tuesday, September 24th. Citigroup lowered their target price on shares of Boeing from $224.00 to $209.00 and set a "buy" rating for the company in a report on Tuesday, October 15th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Three equities research 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 company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $190.37.

Boeing Stock Performance

NYSE:BA traded up $1.45 during trading hours on Friday, hitting $139.59. The company's stock had a trading volume of 7,639,588 shares, compared to its average volume of 9,154,645. The Boeing Company has a 52-week low of $137.18 and a 52-week high of $267.54. The business's 50-day moving average is $153.55 and its two-hundred day moving average is $169.67. The company has a market capitalization of $86.29 billion, a PE ratio of -10.71 and a beta of 1.57.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) 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. During the same period last year, the business earned ($3.26) EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, analysts predict that The Boeing Company will post -16.09 EPS 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.