Sumitomo Mitsui Trust Group Inc. Has $437.47 Million Holdings in The Boeing Company $BA

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of The Boeing Company (NYSE:BA) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,026,896 shares of the aircraft producer’s stock after acquiring an additional 11,968 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of Boeing worth $437,465,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BA. Vanguard Group Inc. increased its holdings in Boeing by 1.7% in the second quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after purchasing an additional 1,118,316 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Boeing by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock worth $3,402,073,000 after acquiring an additional 432,026 shares in the last quarter. Fisher Asset Management LLC increased its stake in Boeing by 3.8% in the 2nd quarter. Fisher Asset Management LLC now owns 5,327,443 shares of the aircraft producer’s stock valued at $1,116,259,000 after buying an additional 196,666 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Boeing by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock worth $888,910,000 after buying an additional 44,338 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Boeing by 6.3% during the 2nd quarter. Legal & General Group Plc now owns 3,145,620 shares of the aircraft producer’s stock worth $659,102,000 after buying an additional 187,545 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Insider Activity at Boeing

In other Boeing news, SVP Dana S. Deasy purchased 554 shares of the stock in a transaction dated Monday, November 24th. The shares were purchased at an average cost of $178.88 per share, with a total value of $99,099.52. Following the completion of the acquisition, the senior vice president directly owned 28,442 shares in the company, valued at $5,087,704.96. This trade represents a 1.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the transaction, the executive vice president directly owned 14,656 shares in the company, valued at $2,896,904.96. The trade was a 8.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by company insiders.

Boeing Price Performance

Shares of BA opened at $234.32 on Monday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm has a market cap of $178.10 billion, a P/E ratio of -17.13, a P/E/G ratio of 6.68 and a beta of 1.16. The stock has a 50 day simple moving average of $203.97 and a two-hundred day simple moving average of $215.98.

Boeing (NYSE:BA) last issued 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 quarter last year, the company earned ($10.44) EPS. The business’s revenue was up 30.4% on a year-over-year basis. On average, equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

BA has been the subject of a number of research analyst reports. New Street Research set a $257.00 price target on Boeing in a report on Tuesday, December 9th. Sanford C. Bernstein set a $277.00 price objective on shares of Boeing and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of Boeing in a research report on Monday, September 29th. BNP Paribas set a $150.00 price target on shares of Boeing in a research report on Tuesday, November 18th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price target on the stock. in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.33.

About Boeing

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.