Allspring Global Investments Holdings LLC Raises Stake in The Boeing Company (NYSE:BA)

Allspring Global Investments Holdings LLC boosted its stake in The Boeing Company (NYSE:BA) by 90.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,090 shares of the aircraft producer’s stock after purchasing an additional 33,695 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Boeing were worth $10,809,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BA. Madison Park Capital Advisors LLC lifted its holdings in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after purchasing an additional 56 shares in the last quarter. Wealth Alliance Advisory Group LLC boosted its position in Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after acquiring an additional 60 shares during the period. Angeles Wealth Management LLC grew its stake in Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after acquiring an additional 61 shares in the last quarter. IMS Capital Management lifted its position in shares of Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after purchasing an additional 62 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings in shares of Boeing by 0.9% during the first quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock worth $1,459,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

BA has been the topic of several research reports. Robert W. Baird dropped their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday. Benchmark reaffirmed a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Thursday. Sanford C. Bernstein cut their price objective on Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus boosted their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley cut their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.79.

Boeing Stock Down 0.1 %

BA opened at $155.01 on Friday. The stock’s 50 day moving average price is $159.68 and its two-hundred day moving average price is $171.66. The firm has a market capitalization of $95.16 billion, a P/E ratio of -43.66 and a beta of 1.57. The Boeing Company has a 12-month low of $146.02 and a 12-month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 analyst estimates of $17.81 billion. The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.26) EPS. As a group, analysts anticipate that The Boeing Company will post -5.35 earnings per share for the current 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.