The Manufacturers Life Insurance Company Sells 7,020 Shares of The Boeing Company (NYSE:BA)

The Manufacturers Life Insurance Company reduced its holdings in The Boeing Company (NYSE:BA) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,408 shares of the aircraft producer’s stock after selling 7,020 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Boeing were worth $65,591,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BA. Van ECK Associates Corp grew its holdings in shares of Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC grew its holdings in 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 worth $2,558,790,000 after acquiring an additional 1,251,165 shares during the last quarter. Wulff Hansen & CO. increased its position in Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after acquiring an additional 960,993 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares during the last quarter. Finally, Newport Trust Company LLC lifted its position in shares of Boeing by 1.2% during 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 purchasing an additional 388,633 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Trading Up 1.1 %

BA stock opened at $152.42 on Thursday. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54. The firm has a market cap of $94.23 billion, a PE ratio of -11.82 and a beta of 1.57. The business’s 50-day moving average price is $151.48 and its two-hundred day moving average price is $167.77.

Boeing (NYSE:BA) last released its quarterly earnings data 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 firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the business earned ($3.26) EPS. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that The Boeing Company will post -16.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Susquehanna dropped their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday. Finally, UBS Group cut their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing currently has an average rating of “Hold” and a consensus price target of $190.11.

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.