Metis Global Partners LLC Grows Stock Position in The Boeing Company (NYSE:BA)

Metis Global Partners LLC lifted its position in The Boeing Company (NYSE:BA) by 3.0% during the third quarter, HoldingsChannel.com reports. The fund owned 18,701 shares of the aircraft producer’s stock after acquiring an additional 548 shares during the period. Metis Global Partners LLC’s holdings in Boeing were worth $2,843,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Lazari Capital Management Inc. boosted its stake in Boeing by 55.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after purchasing an additional 8,309 shares during the last quarter. Patten & Patten Inc. TN lifted its stake in shares of Boeing by 19.8% in the third quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer’s stock worth $3,741,000 after buying an additional 4,065 shares in the last quarter. Czech National Bank boosted its position in Boeing by 8.4% during the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock worth $18,130,000 after acquiring an additional 9,281 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Boeing by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,589,850 shares of the aircraft producer’s stock valued at $241,721,000 after acquiring an additional 35,068 shares during the last quarter. Finally, BSN CAPITAL PARTNERS Ltd purchased a new position in Boeing in the 3rd quarter worth approximately $11,237,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Down 1.3 %

Shares of BA opened at $138.13 on Friday. The Boeing Company has a fifty-two week low of $137.22 and a fifty-two week high of $267.54. The company has a market cap of $85.39 billion, a P/E ratio of -10.71 and a beta of 1.57. The firm’s 50 day moving average price is $154.03 and its 200 day moving average price is $169.89.

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 during the quarter, compared to analyst estimates of $17.81 billion. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($3.26) EPS. Research analysts forecast that The Boeing Company will post -16.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BA. Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. Robert W. Baird cut their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Morgan Stanley cut their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, Jefferies Financial Group decreased their target price 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. Three investment 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $190.37.

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.