Asset Allocation Strategies LLC Acquires 518 Shares of The Boeing Company (NYSE:BA)

Asset Allocation Strategies LLC boosted its holdings in The Boeing Company (NYSE:BA) by 43.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,705 shares of the aircraft producer’s stock after acquiring an additional 518 shares during the quarter. Asset Allocation Strategies LLC’s holdings in Boeing were worth $259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Newport Trust Company LLC increased its stake 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 valued at $5,758,830,000 after acquiring an additional 388,633 shares during the last quarter. State Street Corp raised its holdings in shares of 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 buying an additional 636,594 shares in the last quarter. Geode Capital Management LLC boosted its stake in Boeing by 2.8% in the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after buying an additional 320,415 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after acquiring an additional 106,513 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Boeing by 9.9% in the 3rd 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. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Wells Fargo & Company lowered their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Morgan Stanley reduced their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. UBS Group lowered their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Susquehanna lowered their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $190.11.

Boeing Trading Up 4.6 %

Shares of Boeing stock opened at $164.20 on Wednesday. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $267.54. The company has a 50-day moving average of $151.69 and a 200 day moving average of $166.22.

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 firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned ($3.26) EPS. Equities research analysts forecast that The Boeing Company will post -16.18 EPS for the current fiscal year.

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.