OVERSEA CHINESE BANKING Corp Ltd Boosts Holdings in The Boeing Company (NYSE:BA)

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in The Boeing Company (NYSE:BA) by 63.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,884 shares of the aircraft producer’s stock after purchasing an additional 4,632 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Boeing were worth $1,837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing in the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC bought a new stake in shares of Boeing during the 2nd quarter valued at about $34,000. Harel Insurance Investments & Financial Services Ltd. increased its position 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 buying an additional 165 shares during the period. 1620 Investment Advisors Inc. bought a new position in Boeing in the second quarter worth about $39,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Boeing in the second quarter worth about $41,000. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Morgan Stanley lowered their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Stifel Nicolaus raised their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $190.37.

Boeing Stock Performance

Boeing stock opened at $145.17 on Wednesday. The Boeing Company has a one year low of $143.85 and a one year high of $267.54. The stock has a fifty day moving average of $154.81 and a 200 day moving average of $170.26. The stock has a market cap of $89.74 billion, a PE ratio of -11.25 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results 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 firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($3.26) earnings per share. As a group, sell-side analysts predict that The Boeing Company will post -16.09 EPS for the current fiscal year.

Boeing 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.