Diversify Wealth Management LLC Boosts Stake in The Boeing Company (NYSE:BA)

Diversify Wealth Management LLC raised its position in shares of The Boeing Company (NYSE:BA) by 28.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,889 shares of the aircraft producer’s stock after acquiring an additional 1,301 shares during the period. Diversify Wealth Management LLC’s holdings in Boeing were worth $925,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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 buying an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC boosted its holdings in Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in 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 acquiring an additional 106,513 shares during the period. Jennison Associates LLC grew its position in 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. Finally, Legal & General Group Plc raised its stake 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 valued at $624,749,000 after purchasing an additional 67,474 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $154.24 on Thursday. The firm has a fifty day moving average of $158.34 and a 200-day moving average of $171.24. The company has a market cap of $94.69 billion, a price-to-earnings ratio of -43.45 and a beta of 1.57. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54.

Boeing (NYSE:BA) last posted its earnings results 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 business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the firm earned ($3.26) earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that The Boeing Company will post -5.35 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Susquehanna lowered their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Robert W. Baird cut their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus raised their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company dropped their price objective on Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $190.42.

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.