Synovus Financial Corp Has $3.15 Million Stock Holdings in The Boeing Company (NYSE:BA)

Synovus Financial Corp trimmed its position in The Boeing Company (NYSE:BA) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,698 shares of the aircraft producer’s stock after selling 2,411 shares during the quarter. Synovus Financial Corp’s holdings in Boeing were worth $3,147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Van ECK Associates Corp raised its holdings in Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares during the period. International Assets Investment Management LLC increased its stake in shares of Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after purchasing an additional 1,251,165 shares during the period. Wulff Hansen & CO. lifted its position 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 purchasing an additional 960,993 shares during the last quarter. State Street Corp boosted its stake in Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares during the period. Finally, Jennison Associates LLC grew its holdings in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Trading Up 1.1 %

Shares of Boeing stock opened at $169.65 on Friday. The stock has a market capitalization of $104.88 billion, a price-to-earnings ratio of -13.15 and a beta of 1.56. The firm’s 50-day moving average price is $152.79 and its two-hundred day moving average price is $166.06. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54.

Boeing (NYSE:BA) last released its quarterly 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 company had revenue of $17.84 billion during 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 period last year, the company earned ($3.26) earnings per share. As a group, equities research analysts predict that The Boeing Company will post -16.18 EPS for the current year.

Analyst Upgrades and Downgrades

BA has been the subject of a number of research analyst reports. Citigroup cut their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. TD Cowen dropped their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. cut their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $190.11.

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.