CWA Asset Management Group LLC Takes $334,000 Position in The Boeing Company (NYSE:BA)

CWA Asset Management Group LLC acquired a new stake in shares of The Boeing Company (NYSE:BA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,194 shares of the aircraft producer’s stock, valued at approximately $334,000.

A number of other large investors have also recently made changes to their positions in the stock. Van ECK Associates Corp lifted its position in Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after purchasing an additional 1,251,456 shares during the period. International Assets Investment Management LLC lifted its position in Boeing by 289.8% during the third 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 purchasing an additional 1,251,165 shares during the period. Vanguard Group Inc. lifted its position in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Wulff Hansen & CO. lifted its position in Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after purchasing an additional 960,993 shares during the period. Finally, Newport Trust Company LLC raised its position in shares of Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

Boeing stock opened at $145.17 on Wednesday. The firm has a 50 day simple moving average of $154.81 and a 200-day simple moving average of $170.26. The Boeing Company has a 1-year low of $143.85 and a 1-year high of $267.54. The stock has a market cap of $89.74 billion, a price-to-earnings ratio of -11.36 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly 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 firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the business posted ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts expect that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on BA shares. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Citigroup decreased their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Robert W. Baird decreased their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Morgan Stanley cut their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boeing has a consensus rating of “Hold” and an average price target of $190.37.

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.