Fifth Third Wealth Advisors LLC Makes New $339,000 Investment in The Boeing Company (NYSE:BA)

Fifth Third Wealth Advisors LLC purchased a new position in The Boeing Company (NYSE:BA) in the second quarter, HoldingsChannel.com reports. The fund purchased 1,864 shares of the aircraft producer’s stock, valued at approximately $339,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Research Global Investors raised its stake in Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after purchasing an additional 2,921,043 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after buying an additional 1,884,850 shares in the last quarter. Boston Partners raised its position in shares of Boeing by 861.6% in the fourth quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock valued at $467,338,000 after buying an additional 1,617,151 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in shares of Boeing in the first quarter valued at approximately $272,312,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Citigroup decreased their target price on shares of Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Baird R W upgraded Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Sanford C. Bernstein dropped their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. UBS Group decreased their price target on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Finally, Robert W. Baird lowered their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.18.

Boeing Trading Up 0.8 %

NYSE:BA traded up $1.33 during mid-day trading on Wednesday, hitting $173.43. The company had a trading volume of 4,486,909 shares, compared to its average volume of 8,023,812. The business has a fifty day simple moving average of $178.68 and a 200-day simple moving average of $183.79. The firm has a market capitalization of $106.47 billion, a price-to-earnings ratio of -48.85 and a beta of 1.56. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.82) EPS. As a group, research analysts anticipate that The Boeing Company will post -2.38 earnings per share for the current 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.