RiverPark Advisors LLC Acquires 100 Shares of The Boeing Company (NYSE:BA)

RiverPark Advisors LLC increased its holdings in The Boeing Company (NYSE:BA) by 31.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 418 shares of the aircraft producer’s stock after buying an additional 100 shares during the period. RiverPark Advisors LLC’s holdings in Boeing were worth $64,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BA. Hobbs Group Advisors LLC purchased a new stake in Boeing in the 2nd quarter worth approximately $34,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing in the 2nd quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Boeing in the 2nd quarter worth approximately $39,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Boeing in the 1st quarter worth approximately $53,000. 64.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Benchmark restated a “buy” rating and set a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. TD Cowen lowered their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Susquehanna lowered their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup lowered their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boeing currently has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Price Performance

Shares of Boeing stock opened at $140.19 on Friday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $267.54. The company’s fifty day simple moving average is $153.20 and its two-hundred day simple moving average is $169.45.

Boeing (NYSE:BA) last announced its quarterly 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 business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.26) earnings per share. As a group, equities analysts forecast that The Boeing Company will post -16.2 EPS for the current fiscal 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.