The Boeing Company (NYSE:BA) Position Increased by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd lifted its position in The Boeing Company (NYSE:BA) by 269.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,582 shares of the aircraft producer’s stock after buying an additional 39,082 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Boeing were worth $8,147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing during the second quarter worth $33,000. Hobbs Group Advisors LLC bought a new position in Boeing during the second quarter valued at about $34,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Boeing in the second quarter valued at $39,000. Finally, Strategic Financial Concepts LLC bought a new position in Boeing in the second quarter worth $41,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

NYSE BA traded down $1.94 during trading hours on Wednesday, reaching $143.23. 5,989,155 shares of the company’s stock traded hands, compared to its average volume of 9,060,481. The firm has a 50-day simple moving average of $154.49 and a 200 day simple moving average of $170.11. The Boeing Company has a 52-week low of $141.75 and a 52-week high of $267.54. The firm has a market cap of $88.54 billion, a PE ratio of -11.08 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the firm posted ($3.26) EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that The Boeing Company will post -16.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BA shares. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, October 15th. The Goldman Sachs Group reduced their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Stifel Nicolaus raised their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, Citigroup cut their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Three investment 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.