SpiderRock Advisors LLC Has $13.09 Million Stake in The Boeing Company (NYSE:BA)

SpiderRock Advisors LLC lifted its holdings in shares of The Boeing Company (NYSE:BA) by 49.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 86,115 shares of the aircraft producer’s stock after purchasing an additional 28,317 shares during the quarter. SpiderRock Advisors LLC’s holdings in Boeing were worth $13,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. CWA Asset Management Group LLC acquired a new position in Boeing in the 3rd quarter valued at about $334,000. Equitable Trust Co. boosted its holdings in shares of Boeing by 810.6% during the third quarter. Equitable Trust Co. now owns 25,133 shares of the aircraft producer’s stock worth $3,821,000 after acquiring an additional 22,373 shares during the period. Easterly Investment Partners LLC acquired a new position in shares of Boeing in the third quarter valued at approximately $2,071,000. Lewis Asset Management LLC increased its stake in shares of Boeing by 38.9% during the third quarter. Lewis Asset Management LLC now owns 5,318 shares of the aircraft producer’s stock worth $809,000 after purchasing an additional 1,488 shares during the period. Finally, Mainstream Capital Management LLC acquired a new stake in Boeing during the 3rd quarter worth approximately $320,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on BA shares. UBS Group decreased their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. TD Cowen decreased their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $190.37.

Boeing Trading Up 0.5 %

BA opened at $151.77 on Friday. The company has a market cap of $93.82 billion, a P/E ratio of -11.77 and a beta of 1.57. The company’s 50 day moving average is $155.31 and its 200-day moving average is $170.34. The Boeing Company has a 1-year low of $144.13 and a 1-year high of $267.54.

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 analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.26) EPS. On average, equities analysts forecast that The Boeing Company will post -16.09 EPS for the current year.

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.