Stevens Capital Management LP Acquires New Holdings in The Boeing Company (NYSE:BA)

Stevens Capital Management LP acquired a new stake in The Boeing Company (NYSE:BA) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,337 shares of the aircraft producer’s stock, valued at approximately $1,420,000.

A number of other large investors have also added to or reduced their stakes in the business. Van ECK Associates Corp grew its position 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 valued at $357,712,000 after purchasing an additional 1,251,456 shares during the period. International Assets Investment Management LLC grew its position in Boeing by 289.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after purchasing an additional 1,251,165 shares during the period. Wulff Hansen & CO. grew 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 purchasing an additional 960,993 shares during the period. Jennison Associates LLC grew its position 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 purchasing an additional 602,143 shares during the period. Finally, Newport Trust Company LLC grew its position in Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

NYSE BA opened at $158.22 on Thursday. The company has a market cap of $97.81 billion, a PE ratio of -12.26 and a beta of 1.56. The stock’s 50 day simple moving average is $151.59 and its 200-day simple moving average is $166.89. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS 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. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.26) EPS. On average, equities research analysts anticipate that The Boeing Company will post -16.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on BA. UBS Group reduced their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and set a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Jefferies Financial Group cut their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.