Dakota Wealth Management Expands Its Investment in The Boeing Company (NYSE:BA)

Dakota Wealth Management has recently increased its investment in The Boeing Company (NYSE:BA) by 4.3% during the third quarter, as revealed in its latest filing with the SEC. The firm now holds 10,386 shares of Boeing's stock, having added 425 shares during the quarter. By the end of this period, Dakota Wealth Management's investment in Boeing amounted to approximately $1,579,000.

Several other institutional investors have also made significant adjustments to their Boeing stock holdings. For example, International Assets Investment Management LLC elevated its stake in Boeing by an impressive 289.8% in the third quarter. This investment manager currently possesses 1,682,970 shares valued at around $2,558,790,000 following the acquisition of an additional 1,251,165 shares. Additionally, Vanguard Group Inc. increased its holdings in Boeing by 2.5% during the first quarter, bringing its total to 49,724,770 shares worth $9,596,383,000 after buying an extra 1,222,816 shares. Van ECK Associates Corp made a dramatic increase of 9,626.0% in its Boeing investment during the second quarter, now holding 1,026,092 shares valued at $186,759,000. Furthermore, Wulff Hansen & Co. raised its position in Boeing by a staggering 15,039.0% in the second quarter, with a total of 967,383 shares now worth $176,073,000 after adding 960,993 shares during the quarter. Lastly, Jennison Associates LLC boosted its holdings in Boeing by 14.1% in the first quarter, owning 4,203,435 shares valued at $811,221,000 after acquiring 518,952 additional shares.The overall presence of hedge funds and other institutional investors in Boeing constitutes 64.82% of the company's stock.

Boeing Stock Overview

As of the latest trading session, Boeing's shares opened at $155.01. The average moving price for the last 50 days stands at $159.68, while the 200-day moving average is $171.66. Moreover, Boeing boasts a market capitalization of $95.16 billion, along with a P/E ratio of -43.66 and a beta of 1.57. The stock has seen a particularly wide trading range over the past year, with a low of $146.02 and a high of $267.54.

On October 23rd, Boeing released its latest earnings report, disclosing an EPS of ($10.44) for the quarter. This figure fell short of the consensus estimate by $0.10, which was projected to be ($10.34). The company's revenue for the quarter reached $17.84 billion, slightly above analysts’ expectations of $17.81 billion. In comparison, during the same period last year, Boeing reported an EPS of ($3.26). Overall, the revenue for this quarter indicated a 1.5% decline compared to the previous year. Analysts predict that Boeing will end the current year with an EPS of -5.35.

Insights from Wall Street Analysts

Several analysts have shared updates regarding Boeing's stock. Jefferies Financial Group has lowered its price target from $270.00 to $240.00 while maintaining a “buy” rating on the stock. Meanwhile, Robert W. Baird has adjusted its price objective from $240.00 to $200.00 with an “outperform” rating. Wells Fargo & Company, on another hand, has reduced its target price from $109.00 to $86.00 and assigned an “underweight” rating to Boeing. Conversely, Stifel Nicolaus increased its price target from $230.00 to $235.00 while recommending a “buy.” Additionally, Susquehanna revised its price objective from $210.00 to $200.00 and assigned a “positive” rating. According to MarketBeat, analysts’ ratings reflect mixed sentiments - three analysts suggest selling, eight recommend holding, fourteen advocate buying, while one analyst rates it as a strong buy, resulting in an average rating of “Moderate Buy” and a consensus target price of $191.79.

Boeing Company Overview

The Boeing Company specializes in the design, development, manufacturing, sale, service, and support of commercial jets, military aircraft, satellites, missile defense systems, and human spaceflight systems. The company operates through various segments, which include Commercial Airplanes, Defense, Space & Security, and Global Services.

Boeing, Investment, Stocks