Point72 Asia Singapore Pte. Ltd. Invests $636,000 in The Boeing Company (NYSE:BA)

Point72 Asia Singapore Pte. Ltd. purchased a new position in The Boeing Company (NYSE:BA - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,180 shares of the aircraft producer's stock, valued at approximately $636,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hobbs Group Advisors LLC bought a new position in Boeing during the second quarter valued at approximately $34,000. RPg Family Wealth Advisory LLC acquired a new stake in Boeing in the 3rd quarter worth approximately $28,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing during the 2nd quarter valued at about $33,000. Cedar Wealth Management LLC acquired a new stake in Boeing during the third quarter valued at $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer's stock valued at $39,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Price Performance

Shares of NYSE BA traded up $1.37 during mid-day trading on Monday, hitting $156.81. The company had a trading volume of 7,181,364 shares, compared to its average volume of 9,167,018. The firm has a market cap of $96.94 billion, a P/E ratio of -12.41 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. The business's 50-day simple moving average is $151.48 and its 200-day simple moving average is $167.35.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts' consensus estimates 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. Boeing's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($3.26) earnings per share. As a group, sell-side analysts predict that The Boeing Company will post -16.19 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BA shares. TD Cowen lowered their price target on Boeing from $200.00 to $190.00 and set a "buy" rating for the company in a report on Monday, October 14th. UBS Group decreased their price objective 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. Deutsche Bank Aktiengesellschaft reduced 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. Jefferies Financial Group reduced their target price on shares of Boeing from $270.00 to $240.00 and set a "buy" rating on the stock in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Boeing from $195.00 to $190.00 and set an "overweight" rating for the company in a research note on Monday, November 25th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $190.11.

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.