Brooklyn Investment Group Boosts Stock Position in The Boeing Company (NYSE:BA)

Brooklyn Investment Group grew its stake in shares of The Boeing Company (NYSE:BA) by 95.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,064 shares of the aircraft producer’s stock after buying an additional 1,983 shares during the period. Brooklyn Investment Group’s holdings in Boeing were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BA. Van ECK Associates Corp lifted its holdings in 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 in the last quarter. International Assets Investment Management LLC lifted its holdings in 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 worth $2,558,790,000 after purchasing an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares in the last quarter. State Street Corp lifted 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 purchasing an additional 636,594 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company lowered their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Citigroup reduced their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Finally, Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.21.

Boeing Trading Up 1.3 %

Shares of BA stock opened at $171.14 on Friday. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $217.59. The stock has a market capitalization of $105.80 billion, a price-to-earnings ratio of -13.27 and a beta of 1.52. The stock has a fifty day simple moving average of $162.76 and a two-hundred day simple moving average of $165.00.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 period last year, the company earned ($3.26) EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts predict that The Boeing Company will post -16.43 EPS for the current fiscal 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.