State Board of Administration of Florida Retirement System Acquires 8,042 Shares of The Boeing Company $BA

State Board of Administration of Florida Retirement System raised its stake in The Boeing Company (NYSE:BA) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 708,119 shares of the aircraft producer’s stock after buying an additional 8,042 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Boeing were worth $148,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BA. Vestcor Inc lifted its holdings in shares of Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock valued at $2,471,000 after purchasing an additional 1,195 shares in the last quarter. National Pension Service boosted its position in Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock valued at $227,365,000 after purchasing an additional 218,049 shares during the last quarter. Alpha Cubed Investments LLC grew its stake in Boeing by 43.3% in the second quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock valued at $754,000 after purchasing an additional 1,088 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after buying an additional 1,212,327 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC acquired a new position in Boeing in the 2nd quarter valued at $62,859,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Up 2.4%

Shares of Boeing stock opened at $186.90 on Friday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The business has a 50 day moving average price of $206.38 and a 200-day moving average price of $214.34. The company has a market cap of $142.06 billion, a PE ratio of -13.66 and a beta of 1.44.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The firm had revenue of $23.27 billion for the quarter, compared to analysts’ expectations of $21.61 billion. During the same period last year, the firm posted ($10.44) EPS. Boeing’s quarterly revenue was up 30.4% on a year-over-year basis. As a group, research analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group reiterated a “buy” rating on shares of Boeing in a research note on Thursday, October 30th. Susquehanna lowered their price objective on Boeing from $270.00 to $255.00 and set a “positive” rating for the company in a research report on Wednesday, November 12th. Deutsche Bank Aktiengesellschaft lowered 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. Bank of America lifted their target price on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Jefferies Financial Group set a $255.00 price target on Boeing in a report on Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus target price of $232.09.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were 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 owned 14,656 shares in the company, valued at $2,896,904.96. This trade represents a 8.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Dana S. Deasy acquired 554 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average price of $178.88 per share, for a total transaction of $99,099.52. Following the purchase, the senior vice president owned 28,442 shares of the company’s stock, valued at $5,087,704.96. The trade was a 1.99% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.09% of the stock is currently owned by insiders.

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.