Cadence Bank Grows Position in The Boeing Company (NYSE:BA)

Cadence Bank grew its holdings in The Boeing Company (NYSE:BA) by 5.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,043 shares of the aircraft producer’s stock after buying an additional 162 shares during the period. Cadence Bank’s holdings in Boeing were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BA. Hobbs Group Advisors LLC purchased a new position in Boeing in the 2nd quarter worth approximately $34,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing during the second quarter worth approximately $33,000. Cedar Wealth Management LLC acquired a new position in Boeing during the third quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Boeing in the 2nd quarter valued at $39,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BA. Benchmark reissued a “buy” rating and set a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. Wells Fargo & Company dropped their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. UBS Group decreased their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, TD Cowen cut their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boeing has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Trading Up 1.1 %

Boeing stock opened at $152.42 on Thursday. The firm has a market capitalization of $94.23 billion, a P/E ratio of -11.82 and a beta of 1.57. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54. The stock’s fifty day simple moving average is $151.48 and its 200-day simple moving average is $167.77.

Boeing (NYSE:BA) last issued 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 business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted ($3.26) EPS. Sell-side analysts predict that The Boeing Company will post -16.2 earnings per share for the current 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.