Investment Management Corp of Ontario Has $2.92 Million Stake in The Boeing Company (NYSE:BA)

Investment Management Corp of Ontario lifted its holdings in The Boeing Company (NYSE:BA) by 48.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,201 shares of the aircraft producer’s stock after purchasing an additional 6,300 shares during the period. Investment Management Corp of Ontario’s holdings in Boeing were worth $2,919,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BA. Madison Park Capital Advisors LLC grew its stake in shares of Boeing by 4.9% during the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after buying an additional 56 shares during the last quarter. Wealth Alliance Advisory Group LLC grew its position in Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after acquiring an additional 60 shares during the last quarter. IMS Capital Management increased its holdings in Boeing by 0.4% in the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after purchasing an additional 62 shares in the last quarter. ADE LLC raised its position in Boeing by 4.4% in the second quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock valued at $280,000 after purchasing an additional 65 shares during the last quarter. Finally, Peoples Financial Services CORP. boosted its stake in shares of Boeing by 0.8% during the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Down 1.0 %

Shares of NYSE BA opened at $155.04 on Wednesday. The firm has a market capitalization of $95.85 billion, a P/E ratio of -12.02 and a beta of 1.56. The firm’s 50-day moving average price is $151.47 and its 200-day moving average price is $166.95. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the firm posted ($3.26) EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts forecast that The Boeing Company will post -16.19 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on BA. Citigroup lowered their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. dropped their price target on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Morgan Stanley reduced their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Jefferies Financial Group lowered their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Finally, Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $190.11.

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.