Kentucky Retirement Systems Grows Stake in The Boeing Company (NYSE:BA)

Kentucky Retirement Systems increased its stake in shares of The Boeing Company (NYSE:BA) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,094 shares of the aircraft producer’s stock after buying an additional 881 shares during the quarter. Kentucky Retirement Systems’ holdings in Boeing were worth $8,714,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BA. Revolve Wealth Partners LLC purchased a new stake in shares of Boeing during the fourth quarter valued at $201,000. Bank Pictet & Cie Europe AG purchased a new stake in shares of Boeing during the fourth quarter valued at $7,837,000. Cassaday & Co Wealth Management LLC grew its holdings in shares of Boeing by 19.8% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 3,286 shares of the aircraft producer’s stock valued at $582,000 after buying an additional 543 shares during the last quarter. Transcend Capital Advisors LLC grew its holdings in shares of Boeing by 1.3% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,923 shares of the aircraft producer’s stock valued at $871,000 after buying an additional 61 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. grew its holdings in shares of Boeing by 55.7% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 2,235 shares of the aircraft producer’s stock valued at $396,000 after buying an additional 800 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 equities research analysts have recently weighed in on the stock. TD Securities lowered shares of Boeing to a “cautious” rating in a report on Thursday, May 22nd. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the company a “buy” rating in a research report on Thursday, June 12th. Cowen restated a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. Morgan Stanley set a $200.00 target price on shares of Boeing and gave the company an “equal weight” rating in a research report on Thursday, June 12th. Finally, Citigroup restated a “buy” rating on shares of Boeing in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.85.

Boeing Stock Performance

Shares of Boeing stock opened at $198.41 on Friday. The firm has a 50-day simple moving average of $193.38 and a two-hundred day simple moving average of $178.45. The company has a market cap of $149.60 billion, a P/E ratio of -11.07 and a beta of 1.43. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $218.80.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company posted ($1.13) EPS. Equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the sale, the executive vice president now owns 20,513 shares of the company’s stock, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the sale, the executive vice president now directly owns 42,513 shares of the company’s stock, valued at $7,950,356.13. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,744 shares of company stock worth $1,511,370. 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.