Itau Unibanco Holding S.A. Has $2.36 Million Stock Position in The Boeing Company (NYSE:BA)

Itau Unibanco Holding S.A. lessened its holdings in shares of The Boeing Company (NYSE:BA) by 19.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,976 shares of the aircraft producer’s stock after selling 3,224 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Boeing were worth $2,362,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in shares of Boeing by 35.5% during the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Boeing by 563.9% in the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after buying an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Boeing during the first quarter worth $272,312,000. Finally, Vanguard Group Inc. lifted its position in Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BA has been the subject of several recent research reports. Baird R W raised Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Robert W. Baird reduced their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Wells Fargo & Company reiterated an “underweight” rating and issued a $119.00 price objective (down from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Susquehanna restated a “positive” rating and set a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Finally, Stifel Nicolaus raised their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

Boeing Trading Down 0.8 %

BA opened at $153.29 on Friday. The stock’s fifty day simple moving average is $171.21 and its 200 day simple moving average is $177.57. The Boeing Company has a 1-year low of $152.60 and a 1-year high of $267.54. The stock has a market cap of $94.10 billion, a PE ratio of -43.18 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. Boeing’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.82) earnings per share. Equities analysts forecast that The Boeing Company will post -4.26 earnings per share for the current year.

About Boeing

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.