Dakota Wealth Management Boosts 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 indicated in its latest filing with the SEC. After acquiring an additional 425 shares, the fund holds a total of 10,386 shares of the renowned aircraft manufacturer. As of the end of the recent quarter, Dakota Wealth Management's stake in Boeing was valued at approximately $1,579,000.

Several other major investors have also made significant adjustments to their positions in Boeing. For instance, International Assets Investment Management LLC significantly raised its holdings by 289.8% in the third quarter, owning 1,682,970 shares valued at around $2.56 billion after acquiring an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. increased its investment in Boeing by 2.5% during the first quarter, now owning about 49,724,770 shares valued at approximately $9.60 billion after adding 1,222,816 shares.

Additionally, Van ECK Associates Corp raised its stake in Boeing by an impressive 9,626.0% in the second quarter, now holding 1,026,092 shares worth around $186.76 million after purchasing another 1,015,542 shares. Wulff Hansen & Co. boosted its holdings by 15,039.0% during the same quarter, holding a total of 967,383 shares valued at $176.07 million. Furthermore, Jennison Associates LLC increased its position in Boeing by 14.1% in the first quarter, bringing its total to 4,203,435 shares valued at about $811.22 million. Collectively, hedge funds and other institutional investors own 64.82% of Boeing's stock.

Boeing Stock Overview

Boeing's shares opened at $155.01, and the company's performance can be tracked with a 50-day moving average of $159.68 and a two-hundred-day moving average of $171.66. Boeing currently has a market capitalization of $95.16 billion, with a price-to-earnings (P/E) ratio of -43.66 and a beta of 1.57. The stock has experienced a fifty-two week low of $146.02 and a high of $267.54.

In its latest earnings report released on October 23rd, Boeing reported an earnings per share (EPS) of ($10.44) for the quarter, falling short of the consensus estimate of ($10.34) by $0.10. The company generated revenues of $17.84 billion, slightly above analyst expectations of $17.81 billion, though this figure marks a 1.5% decline compared to the same quarter last year. Analysts project that Boeing will report an EPS of -5.35 for the current year.

Analysts' Perspectives

Equities analysts have shared their assessments of Boeing, with varied outlooks on the stock. Jefferies Financial Group lowered its target price from $270.00 to $240.00, affirming a “buy” rating for the company. Meanwhile, Robert W. Baird also reduced their price target from $240.00 to $200.00, maintaining an “outperform” rating. Wells Fargo & Company took a more conservative approach, cutting its target from $109.00 to $86.00 and issuing an “underweight” rating. Stifel Nicolaus increased its price target from $230.00 to $235.00, giving it a “buy” rating. Lastly, Susquehanna lowered their price target from $210.00 to $200.00, rating the stock as “positive.” In total, three investment analysts rate the stock as a sell, eight suggest holding, fourteen recommend buying, and one advised a strong buy. According to MarketBeat's analysis, the stock has an average rating of “Moderate Buy” with a consensus target price of $191.79.

Boeing Company Profile

The Boeing Company is a leading aerospace company that designs, develops, manufactures, sells, and services commercial jets, military aircraft, satellites, missile defense systems, human space flight technologies, and related services globally. The company operates through its three core segments: Commercial Airplanes, Defense, Space & Security, and Global Services.

Investment, Boeing, Stock