IndexIQ Advisors LLC purchased a new stake in The Boeing Company (NYSE:BA – Get Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 407 shares of the aircraft producer's stock, valued at approximately $78,000.
A number of other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Boeing by 0.4% during the fourth quarter. BlackRock Inc. now owns 30,786,905 shares of the aircraft producer's stock valued at $6,198,021,000 after purchasing an additional 136,818 shares during the period. Loomis Sayles & Co. L P grew its position in shares of Boeing by 19.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 13,367,929 shares of the aircraft producer's stock worth $2,691,231,000 after buying an additional 2,210,908 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Boeing by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 8,616,520 shares of the aircraft producer's stock worth $1,729,452,000 after buying an additional 207,904 shares in the last quarter. Northern Trust Corp grew its position in shares of Boeing by 4.0% during the fourth quarter. Northern Trust Corp now owns 5,013,641 shares of the aircraft producer's stock worth $1,009,346,000 after buying an additional 193,777 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Boeing by 165.0% during the fourth quarter. Bank of Montreal Can now owns 4,377,572 shares of the aircraft producer's stock worth $1,015,817,000 after buying an additional 2,725,602 shares in the last quarter. Hedge funds and other institutional investors own 53.96% of the company's stock.
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Analysts Set New Price Targets
BA has been the subject of a number of recent analyst reports. StockNews.com raised shares of Boeing from a "sell" rating to a "hold" rating in a research report on Friday, July 29th. Susquehanna reduced their price target on shares of Boeing from $193.00 to $192.00 in a report on Friday, May 20th. Jefferies Financial Group cut their price objective on shares of Boeing from $270.00 to $225.00 and set a "buy" rating on the stock in a research note on Monday, May 2nd. Royal Bank of Canada set a $200.00 price objective on shares of Boeing in a research note on Monday, August 1st. Finally, Susquehanna Bancshares dropped their price target on shares of Boeing from $193.00 to $192.00 and set a "positive" rating on the stock in a research report on Friday, May 20th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $219.56.
Boeing Price Performance
NYSE:BA opened at $169.99 on Friday. The Boeing Company has a fifty-two week low of $113.02 and a fifty-two week high of $239.69. The stock's 50-day moving average is $146.46 and its two-hundred day moving average is $165.60. The stock has a market cap of $100.94 billion, a PE ratio of -18.99 and a beta of 1.38.
Boeing (NYSE:BA – Get Rating) last released its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.23). The business had revenue of $16.68 billion during the quarter, compared to the consensus estimate of $17.53 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. Boeing's quarterly revenue was down 1.9% on a year-over-year basis. On average, equities research analysts anticipate that The Boeing Company will post -1.69 earnings per share for the current year.
Boeing Company Profile
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The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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