Fifth Third Wealth Advisors LLC Increases Holdings in The Boeing Company (NYSE:BA)

Fifth Third Wealth Advisors LLC raised its stake in The Boeing Company (NYSE:BA) by 33.3% during the third quarter, HoldingsChannel reports. The fund owned 2,485 shares of the aircraft producer’s stock after buying an additional 621 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Boeing were worth $378,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Prospera Financial Services Inc increased its position in shares of Boeing by 5.7% during the third quarter. Prospera Financial Services Inc now owns 22,430 shares of the aircraft producer’s stock valued at $3,411,000 after acquiring an additional 1,214 shares in the last quarter. Caprock Group LLC boosted its stake in Boeing by 2.5% during the 3rd quarter. Caprock Group LLC now owns 10,234 shares of the aircraft producer’s stock valued at $1,556,000 after purchasing an additional 252 shares during the last quarter. Semus Wealth Partners LLC increased its holdings in shares of Boeing by 28.6% in the 3rd quarter. Semus Wealth Partners LLC now owns 1,801 shares of the aircraft producer’s stock worth $274,000 after purchasing an additional 400 shares in the last quarter. First Western Trust Bank purchased a new position in shares of Boeing in the third quarter worth $261,000. Finally, Aljian Capital Management LLC bought a new position in shares of Boeing during the third quarter valued at $256,000. 64.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on BA. Benchmark reissued a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Stifel Nicolaus raised their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their target price 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. Finally, Robert W. Baird dropped their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing currently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Stock Performance

Shares of BA stock opened at $143.83 on Friday. The stock has a fifty day simple moving average of $151.85 and a two-hundred day simple moving average of $168.62. The firm has a market capitalization of $88.92 billion, a PE ratio of -11.15 and a beta of 1.57. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) 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 analysts’ expectations of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($3.26) EPS. On average, sell-side analysts forecast that The Boeing Company will post -16.2 EPS for the current fiscal 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.