Crane Advisory LLC Boosts Holdings in The Boeing Company (NYSE:BA)

Crane Advisory LLC lifted its stake in The Boeing Company (NYSE:BA) by 16.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,272 shares of the aircraft producer’s stock after buying an additional 315 shares during the period. Crane Advisory LLC’s holdings in Boeing were worth $351,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BA. Global Assets Advisory LLC purchased a new stake in shares of Boeing in the first quarter valued at about $272,312,000. Vanguard Group Inc. boosted its holdings in shares of Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Boeing by 9,626.0% in the second quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock valued at $186,759,000 after acquiring an additional 1,015,542 shares in the last quarter. Wulff Hansen & CO. boosted its holdings in shares of Boeing by 15,039.0% in the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after acquiring an additional 960,993 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after acquiring an additional 518,952 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday. Wells Fargo & Company lowered their target price on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a report on Monday. Finally, 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 report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $201.00.

Boeing Price Performance

BA opened at $152.45 on Wednesday. The stock has a market capitalization of $93.59 billion, a PE ratio of -42.94 and a beta of 1.57. The firm’s fifty day moving average price is $161.80 and its 200 day moving average price is $173.13. The Boeing Company has a 12-month low of $146.02 and a 12-month high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.82) earnings per share. On average, equities research analysts forecast that The Boeing Company will post -5.35 earnings per share for the current fiscal 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.