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

Dakota Wealth Management has recently enhanced its investment in The Boeing Company (NYSE:BA) by 4.3% during the third quarter of the year, as revealed in their latest filing with the U.S. Securities and Exchange Commission (SEC). This strategic move brought their total holdings to 10,386 shares of the aerospace giant, following the acquisition of an additional 425 shares during the period. At the close of the quarter, Dakota Wealth Management's investment in Boeing was valued at approximately $1,579,000.

In addition to Dakota Wealth Management's increase, several other prominent investors have adjusted their positions in Boeing. For instance, International Assets Investment Management LLC made a significant leap, increasing its holdings by an impressive 289.8% in the third quarter, resulting in ownership of 1,682,970 shares, valued at around $2.56 billion after acquiring an extra 1,251,165 shares recently. Furthermore, Vanguard Group Inc. also raised its stake by 2.5% in the first quarter, now holding 49,724,770 shares valued at roughly $9.6 billion after buying an additional 1,222,816 shares. Notably, Van ECK Associates Corp drastically raised its position by an astounding 9,626.0% during the second quarter, acquiring 1,026,092 shares valued at approximately $186.76 million after adding 1,015,542 shares. Another significant contributor, Wulff Hansen & CO., inflated its stake in Boeing by 15,039.0%, now possessing 967,383 shares worth $176.07 million, following an additional purchase of 960,993 shares. Lastly, Jennison Associates LLC increased its investment by 14.1% in the first quarter, accumulating a total of 4,203,435 shares valued at $811.22 million after acquiring an extra 518,952 shares. As a result, hedge funds and other institutional investors now own approximately 64.82% of Boeing's stock.

Boeing Stock Performance Overview

At the start of the trading day, Boeing shares were priced at $155.01. The company’s 50-day moving average stands at $159.68, while the 200-day moving average is $171.66, showing a trend of decreasing stock value. Currently, Boeing has a market capitalization of $95.16 billion and a price-to-earnings (P/E) ratio of -43.66, with a beta of 1.57 indicating a higher volatility compared to the overall market. The stock has seen a range over the past year, hitting a low of $146.02 and a high of $267.54.

Recently, Boeing announced its quarterly earnings results. For the quarter ending October 23rd, the company reported an earnings per share (EPS) of ($10.44), which was below the expected consensus estimate of ($10.34), a miss by $0.10. The total revenue was reported at $17.84 billion, slightly surpassing analysts’ forecasts of $17.81 billion. This marks a decline in income from last year, where the business had posted an EPS of ($3.26), indicating a year-over-year revenue decrease of 1.5%. Analysts project that Boeing will generate an EPS of -5.35 for the current fiscal year.

Analysis from Wall Street Experts

Various equity analysts have expressed their views on Boeing shares. Jefferies Financial Group recently lowered its target price from $270.00 to $240.00 while maintaining a "buy" rating on the stock. Similarly, Robert W. Baird cut its price target from $240.00 to $200.00 while also assigning an "outperform" rating. In contrast, Wells Fargo & Company dropped their price objective from $109.00 to $86.00, giving the company an "underweight" rating. On a positive note, Stifel Nicolaus raised their target to $235.00 and reaffirmed a "buy" rating, while Susquehanna adjusted its target from $210.00 to $200.00, asserting a “positive” sentiment. Overall, three investment analysts have rated the stock as a sell, eight have given it a hold rating, fourteen have assigned a buy rating, and one has issued a strong buy rating. According to MarketBeat, Boeing stock averages a "Moderate Buy" rating, with a consensus target price set at $191.79.

Boeing Company Profile

Boeing is a leading global aerospace company and is known for designing, developing, manufacturing, selling, and servicing a wide variety of commercial jetliners and military aircraft, as well as satellites, missile defense systems, human spaceflight, and launch systems. The company operates through segments that include Commercial Airplanes, Defense, Space & Security, and Global Services.

Investment, Boeing, Stock