Maiden Cove Capital LLC Raises Holdings in The Boeing Company (NYSE:BA)

Maiden Cove Capital LLC raised its holdings in The Boeing Company (NYSE:BA) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,243 shares of the aircraft producer’s stock after purchasing an additional 74 shares during the quarter. Maiden Cove Capital LLC’s holdings in Boeing were worth $220,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Van ECK Associates Corp raised its holdings in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares during the period. International Assets Investment Management LLC grew its position 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 valued at $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. grew its position 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 valued at $169,386,000 after acquiring an additional 1,055,472 shares in the last quarter. State Street Corp increased its stake in Boeing by 2.3% during the third 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 during the period. Finally, Jennison Associates LLC lifted its position in shares of Boeing by 9.9% during the third 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. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Up 1.3 %

Shares of NYSE BA opened at $171.14 on Friday. The stock has a 50 day moving average of $163.15 and a two-hundred day moving average of $164.89. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $217.59.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the business posted ($3.26) EPS. Boeing’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post -16.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BA. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. UBS Group reduced their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group lowered their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.21.

About Boeing

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.