CIBC Asset Management Inc Grows Position in The Boeing Company (NYSE:BA)

CIBC Asset Management Inc raised its holdings in The Boeing Company (NYSE:BA) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,401 shares of the aircraft producer’s stock after acquiring an additional 7,295 shares during the period. CIBC Asset Management Inc’s holdings in Boeing were worth $13,593,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BA. Davis R M Inc. raised its holdings in shares of Boeing by 2.9% during the 1st quarter. Davis R M Inc. now owns 3,029 shares of the aircraft producer’s stock valued at $585,000 after buying an additional 86 shares in the last quarter. Rockport Wealth LLC bought a new position in Boeing during the 1st quarter worth approximately $416,000. UniSuper Management Pty Ltd grew its position in Boeing by 180.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,542 shares of the aircraft producer’s stock worth $2,420,000 after acquiring an additional 8,070 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new position in Boeing during the 1st quarter worth approximately $228,000. Finally, Burgundy Asset Management Ltd. grew its position in Boeing by 42.9% during the 1st quarter. Burgundy Asset Management Ltd. now owns 50,000 shares of the aircraft producer’s stock worth $9,650,000 after acquiring an additional 15,000 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on BA. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research report on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. Citigroup cut their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, Morgan Stanley cut their price objective 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. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $190.37.

Boeing Trading Up 1.5 %

Shares of NYSE:BA opened at $140.19 on Friday. The stock has a fifty day simple moving average of $153.20 and a two-hundred day simple moving average of $169.45. The stock has a market capitalization of $86.67 billion, a price-to-earnings ratio of -10.87 and a beta of 1.57. The Boeing Company has a 12-month low of $137.03 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 analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during 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 period last year, the firm earned ($3.26) EPS. As a group, equities research analysts predict that The Boeing Company will post -16.09 EPS for the current 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.