Prudential Financial Inc. Acquires 609,287 Shares of The Boeing Company $BA

Prudential Financial Inc. lifted its holdings in The Boeing Company (NYSE:BA) by 151.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,010,859 shares of the aircraft producer’s stock after buying an additional 609,287 shares during the period. Prudential Financial Inc. owned about 0.13% of Boeing worth $211,805,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Harbor Asset Planning Inc. purchased a new stake in Boeing in the 2nd quarter worth about $25,000. Piscataqua Savings Bank grew its stake in shares of Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 137 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Boeing in the second quarter worth approximately $35,000. IMG Wealth Management Inc. lifted its stake in shares of Boeing by 159.4% during the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock worth $38,000 after acquiring an additional 110 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Boeing during the 2nd quarter worth approximately $39,000. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BA shares. Bank of America lifted their target price on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Barclays lifted their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 target price on the stock. in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. lowered their price target on Boeing from $251.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.09.

Boeing Stock Performance

Shares of BA opened at $179.58 on Friday. The company has a 50 day moving average price of $208.90 and a 200-day moving average price of $214.69. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The stock has a market capitalization of $136.50 billion, a PE ratio of -13.13 and a beta of 1.44.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion for the quarter, compared to the consensus estimate of $21.61 billion. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period last year, the business earned ($10.44) earnings per share. Equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling at Boeing

In related news, EVP Uma M. Amuluru sold 1,366 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares in the company, valued at $2,896,904.96. This represents a 8.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is owned by company insiders.

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.