NorthCrest Asset Manangement LLC Purchases 1,882 Shares of The Boeing Company (NYSE:BA)

by · The Cerbat Gem

NorthCrest Asset Manangement LLC grew its position in The Boeing Company (NYSE:BA – Free Report) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,188 shares of the aircraft producer’s stock after buying an additional 1,882 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Boeing were worth $9,455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Boeing by 2.5% during the first 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 period. Newport Trust Company LLC raised its position in shares of Boeing by 1.2% during 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 period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after buying an additional 518,952 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after acquiring an additional 67,474 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.1 %

BA stock traded down $0.19 during midday trading on Friday, hitting $155.01. The company had a trading volume of 8,152,969 shares, compared to its average volume of 8,128,691. The stock has a market cap of $95.16 billion, a price-to-earnings ratio of -43.65 and a beta of 1.57. The Boeing Company has a 52 week low of $146.02 and a 52 week high of $267.54. The stock’s 50 day moving average price is $159.68 and its 200 day moving average price is $171.70.

Boeing (NYSE:BA – Get Free Report) last posted its 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 firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($3.26) earnings per share. Analysts predict that The Boeing Company will post -5.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Citigroup cut their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. UBS Group dropped their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday. Sanford C. Bernstein cut their price objective on Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Jefferies Financial Group reduced their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Finally, Robert W. Baird reduced their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.79.

Read Our Latest Research Report on Boeing

About Boeing

(Free Report)

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.

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