Zions Bancorporation N.A. Acquires 714 Shares of The Boeing Company (NYSE:BA)

Zions Bancorporation N.A. raised its holdings in The Boeing Company (NYSE:BA) by 85.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,550 shares of the aircraft producer’s stock after acquiring an additional 714 shares during the quarter. Zions Bancorporation N.A.’s holdings in Boeing were worth $236,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Van ECK Associates Corp raised its stake in Boeing by 122.0% in 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 in the last quarter. International Assets Investment Management LLC raised its position in shares of Boeing by 289.8% during 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 buying an additional 1,251,165 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in shares of Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after acquiring an additional 960,993 shares during the last quarter. Newport Trust Company LLC grew its position in 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 in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Boeing by 79.0% in the first quarter. Canada Pension Plan Investment Board now owns 726,254 shares of the aircraft producer’s stock valued at $140,160,000 after acquiring an additional 320,502 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Boeing stock opened at $140.18 on Friday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $267.54. The stock has a market cap of $86.66 billion, a price-to-earnings ratio of -10.71 and a beta of 1.57. The stock’s 50 day simple moving average is $153.55 and its two-hundred day simple moving average is $169.67.

Boeing (NYSE:BA) last issued 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 company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.26) earnings per share. On average, analysts predict that The Boeing Company will post -16.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

BA has been the subject of a number of research reports. The Goldman Sachs Group cut their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. TD Cowen decreased their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company reduced their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Finally, Morgan Stanley cut their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $190.37.

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.