The Boeing Company (NYSE:BA) Stake Boosted by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of The Boeing Company (NYSE:BA) by 0.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,637,638 shares of the aircraft producer’s stock after buying an additional 1,835 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of Boeing worth $316,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing during the 4th quarter valued at $26,000. DiNuzzo Private Wealth Inc. acquired a new position in Boeing during the fourth quarter valued at $28,000. Evolution Advisers Inc. purchased a new stake in Boeing in the 4th quarter worth about $28,000. Vima LLC purchased a new position in Boeing during the 4th quarter valued at about $34,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Boeing in the fourth quarter worth approximately $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BA shares. Sanford C. Bernstein dropped their price objective on shares of Boeing from $230.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. TD Cowen cut their price objective on Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, March 25th. Bank of America boosted their target price on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. cut their price target on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Melius reissued a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $220.89.

Boeing Trading Down 0.9 %

Shares of Boeing stock traded down $1.60 during trading on Wednesday, reaching $183.82. The company’s stock had a trading volume of 1,102,723 shares, compared to its average volume of 8,465,640. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The stock has a 50-day moving average price of $178.82 and a two-hundred day moving average price of $197.56. The stock has a market capitalization of $112.84 billion, a P/E ratio of -52.23 and a beta of 1.56.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. As a group, sell-side analysts anticipate that The Boeing Company will post -1.67 EPS for the current fiscal year.

Boeing Company 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.