Pinnacle Bancorp Inc. Raises Stake in The Boeing Company (NYSE:BA)

Pinnacle Bancorp Inc. raised its stake in shares of The Boeing Company (NYSE:BA) by 70.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 494 shares of the aircraft producer’s stock after buying an additional 204 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Boeing were worth $87,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after acquiring an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Boeing by 289.8% during the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after purchasing an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares during the last quarter. State Street Corp raised its stake in Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

NYSE BA opened at $168.91 on Friday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $217.59. The stock has a market cap of $104.42 billion, a P/E ratio of -13.09 and a beta of 1.52. The stock has a 50 day simple moving average of $162.40 and a two-hundred day simple moving average of $164.98.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the business posted ($3.26) EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that The Boeing Company will post -16.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BA shares. 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. The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Benchmark reaffirmed a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Morgan Stanley reduced 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. Finally, DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

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.