Capital Group Investment Management PTE. LTD. Increases Holdings in The Boeing Company (NYSE:BA)

Capital Group Investment Management PTE. LTD. lifted its holdings in shares of The Boeing Company (NYSE:BA) by 80.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,585 shares of the aircraft producer’s stock after purchasing an additional 5,151 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Boeing were worth $2,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in Boeing in the third quarter valued at approximately $7,544,000. World Investment Advisors LLC raised its stake in shares of Boeing by 243.4% in the third quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after buying an additional 3,814 shares during the period. Wilmington Savings Fund Society FSB lifted its position in shares of Boeing by 290.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,053 shares of the aircraft producer’s stock valued at $2,593,000 after buying an additional 12,680 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Boeing by 2.1% during the 3rd quarter. Tidal Investments LLC now owns 38,230 shares of the aircraft producer’s stock worth $5,812,000 after acquiring an additional 804 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BA. StockNews.com upgraded shares of Boeing to a “sell” rating in a research report on Saturday, April 5th. JPMorgan Chase & Co. lifted their price objective on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Citigroup boosted their target price on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 10th. UBS Group raised their price target on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company cut their target price on Boeing from $113.00 to $111.00 and set an “underweight” rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $198.95.

Boeing Price Performance

Shares of NYSE BA opened at $161.84 on Friday. The stock has a market capitalization of $121.39 billion, a P/E ratio of -8.83 and a beta of 1.24. The Boeing Company has a one year low of $128.88 and a one year high of $196.95. The firm’s 50 day simple moving average is $166.78 and its two-hundred day simple moving average is $163.98.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the prior year, the company earned ($0.47) EPS. As a group, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

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.