Intact Investment Management Inc. Purchases 2,450 Shares of The Boeing Company (NYSE:BA)

Intact Investment Management Inc. lifted its position in The Boeing Company (NYSE:BA) by 245.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,450 shares of the aircraft producer’s stock after buying an additional 2,450 shares during the period. Intact Investment Management Inc.’s holdings in Boeing were worth $899,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. CNB Bank raised its holdings in shares of Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. Evolution Advisers Inc. purchased a new position in shares of Boeing during the fourth quarter valued at approximately $28,000. Lowe Wealth Advisors LLC purchased a new stake in Boeing during the third quarter valued at approximately $43,000. Naples Money Management LLC purchased a new stake in Boeing during the fourth quarter valued at approximately $44,000. Finally, Blue Bell Private Wealth Management LLC increased its holdings in Boeing by 66.2% during the third quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock valued at $45,000 after buying an additional 94 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA traded up $0.41 during midday trading on Friday, hitting $167.22. The stock had a trading volume of 7,208,103 shares, compared to its average volume of 7,379,195. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54. The firm has a market cap of $102.65 billion, a PE ratio of -47.10, a price-to-earnings-growth ratio of 140.43 and a beta of 1.52. The stock’s 50 day moving average is $186.53 and its 200 day moving average is $206.55.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.75) EPS. As a group, equities research analysts expect that The Boeing Company will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on BA shares. Citigroup reduced their target price on shares of Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group dropped their price target on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Sanford C. Bernstein dropped their price target on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Melius reiterated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Finally, Edward Jones lowered shares of Boeing from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $222.41.

About Boeing

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.