Nwam LLC Invests $2.90 Million in The Boeing Company (NYSE:BA)

Nwam LLC purchased a new position in The Boeing Company (NYSE:BA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 19,065 shares of the aircraft producer’s stock, valued at approximately $2,899,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Van ECK Associates Corp lifted its position in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the period. International Assets Investment Management LLC increased its stake in shares of Boeing by 289.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Wulff Hansen & CO. increased its stake in shares of Boeing by 15,039.0% in the 2nd 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. Jennison Associates LLC increased its stake in shares of Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. Finally, Newport Trust Company LLC increased its stake in shares of Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after acquiring an additional 388,633 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of NYSE:BA opened at $149.27 on Friday. The company’s 50-day moving average is $151.70 and its 200 day moving average is $168.42. The company has a market capitalization of $92.28 billion, a P/E ratio of -11.57 and a beta of 1.57. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($3.26) earnings per share. As a group, research analysts predict that The Boeing Company will post -16.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

BA has been the subject of several research analyst reports. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group decreased their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, Susquehanna decreased their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $190.37.

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.