Sumitomo Mitsui DS Asset Management Company Ltd Boosts Position in The Boeing Company $BA

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of The Boeing Company (NYSE:BA) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 335,372 shares of the aircraft producer’s stock after buying an additional 19,750 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Boeing were worth $70,270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Revolve Wealth Partners LLC acquired a new position in Boeing during the 4th quarter worth approximately $201,000. Bank Pictet & Cie Europe AG purchased a new stake in shares of Boeing during the fourth quarter valued at approximately $7,837,000. Vident Advisory LLC boosted its stake in shares of Boeing by 21.9% in the fourth quarter. Vident Advisory LLC now owns 8,879 shares of the aircraft producer’s stock valued at $1,572,000 after purchasing an additional 1,595 shares during the period. Waverly Advisors LLC grew its holdings in Boeing by 43.0% during the 4th quarter. Waverly Advisors LLC now owns 17,253 shares of the aircraft producer’s stock valued at $3,054,000 after purchasing an additional 5,185 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Boeing by 14.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer’s stock worth $502,933,000 after buying an additional 369,306 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

BA stock opened at $214.73 on Thursday. The stock’s fifty day moving average is $228.40 and its two-hundred day moving average is $200.07. The stock has a market capitalization of $162.37 billion, a price-to-earnings ratio of -13.01 and a beta of 1.48. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.90) earnings per share. As a group, analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on BA shares. Wells Fargo & Company reissued an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a report on Wednesday, July 30th. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and increased their target price for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Rothschild & Co Redburn upgraded Boeing from a “neutral” rating to a “buy” rating and set a $275.00 target price for the company in a research report on Friday, June 27th. Finally, Bank of America raised their price objective on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $230.77.

Insider Buying and Selling

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

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.