The Boeing Company (NYSE:BA) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in The Boeing Company (NYSE:BA) by 9,626.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,026,092 shares of the aircraft producer’s stock after buying an additional 1,015,542 shares during the period. Van ECK Associates Corp owned 0.17% of Boeing worth $186,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Boeing in the 4th quarter worth $26,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Boeing in the 4th quarter worth about $28,000. Vima LLC acquired a new position in shares of Boeing in the 4th quarter valued at about $34,000. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the 2nd quarter worth about $34,000. Finally, McClarren Financial Advisors Inc. increased its position in Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of Boeing stock traded up $1.48 on Friday, reaching $173.74. 4,146,190 shares of the company were exchanged, compared to its average volume of 5,527,323. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54. The firm has a market cap of $107.05 billion, a price-to-earnings ratio of -48.94 and a beta of 1.56. The company’s 50-day moving average is $178.13 and its two-hundred day moving average is $182.06.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the previous year, the company posted ($0.82) EPS. The firm’s revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -4.26 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on BA shares. Susquehanna reiterated a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Wells Fargo & Company lowered their target price on Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. UBS Group reduced their price target on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Robert W. Baird lowered their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Finally, Baird R W raised shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.18.

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.