Point72 Asia Singapore Pte. Ltd. Purchases Shares of 4,180 The Boeing Company (NYSE:BA)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in The Boeing Company (NYSE:BA) during the third quarter, HoldingsChannel.com reports. The fund purchased 4,180 shares of the aircraft producer’s stock, valued at approximately $636,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new position in Boeing in the third quarter valued at approximately $3,872,000. FSA Wealth Management LLC bought a new position in Boeing in the third quarter valued at approximately $106,000. Tradition Wealth Management LLC lifted its position in shares of Boeing by 20.7% in the third quarter. Tradition Wealth Management LLC now owns 2,156 shares of the aircraft producer’s stock worth $328,000 after purchasing an additional 370 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Boeing by 12.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,239 shares of the aircraft producer’s stock worth $2,773,000 after purchasing an additional 1,956 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after purchasing an additional 38,300 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of Boeing stock opened at $155.44 on Monday. The firm has a 50-day moving average of $151.48 and a 200-day moving average of $167.35. The stock has a market cap of $96.09 billion, a PE ratio of -12.05 and a beta of 1.57. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $267.54.

Boeing (NYSE:BA) last announced its earnings results 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 firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the firm posted ($3.26) earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -16.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BA. The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. UBS Group lowered their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Robert W. Baird lowered their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Finally, Wells Fargo & Company lowered their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boeing presently has a consensus rating of “Hold” and an average target price of $190.11.

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.