TB Alternative Assets Ltd. Invests $68.02 Million in The Boeing Company (NYSE:BA)

TB Alternative Assets Ltd. bought a new stake in shares of The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 384,284 shares of the aircraft producer’s stock, valued at approximately $68,018,000. Boeing makes up 17.5% of TB Alternative Assets Ltd.’s portfolio, making the stock its biggest position. TB Alternative Assets Ltd. owned about 0.06% of Boeing as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares during the period. Geode Capital Management LLC lifted its position in shares of Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after purchasing an additional 320,415 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the period. Fisher Asset Management LLC grew its holdings in Boeing by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after purchasing an additional 277,350 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after buying an additional 67,474 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Up 1.3 %

Shares of BA opened at $171.14 on Tuesday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $217.59. The firm’s 50 day moving average is $163.15 and its 200-day moving average is $164.61.

Boeing (NYSE:BA) last issued 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 company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the firm earned ($3.26) EPS. The firm’s revenue was down 1.5% on a year-over-year basis. On average, research analysts anticipate that The Boeing Company will post -16.43 EPS for the current year.

Analysts Set New Price Targets

BA has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research note on Tuesday, October 15th. Morgan Stanley dropped their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Finally, Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $192.21.

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.