iA Global Asset Management Inc. Buys 9,301 Shares of The Boeing Company (NYSE:BA)

iA Global Asset Management Inc. raised its stake in The Boeing Company (NYSE:BA) by 56.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 25,828 shares of the aircraft producer’s stock after buying an additional 9,301 shares during the period. iA Global Asset Management Inc.’s holdings in Boeing were worth $4,701,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BA. Brio Consultants LLC acquired a new position in shares of Boeing during the fourth quarter worth $207,000. Russell Investments Group Ltd. increased its position in Boeing by 18.3% during the 4th quarter. Russell Investments Group Ltd. now owns 80,590 shares of the aircraft producer’s stock valued at $21,005,000 after purchasing an additional 12,493 shares during the period. Silver Oak Securities Incorporated boosted its stake in shares of Boeing by 154.3% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,424 shares of the aircraft producer’s stock valued at $371,000 after purchasing an additional 864 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Boeing by 11.6% during the 4th quarter. Van ECK Associates Corp now owns 3,426 shares of the aircraft producer’s stock valued at $893,000 after purchasing an additional 357 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its holdings in Boeing by 1.4% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 6,352 shares of the aircraft producer’s stock worth $1,656,000 after purchasing an additional 88 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BA. Susquehanna reaffirmed a “positive” rating and set a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Sanford C. Bernstein reduced their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus increased their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Baird R W upgraded Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Finally, Bank of America boosted their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.18.

Boeing Stock Up 0.9 %

Shares of BA opened at $173.85 on Friday. The firm has a fifty day simple moving average of $178.18 and a two-hundred day simple moving average of $182.46. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54. The stock has a market capitalization of $106.72 billion, a P/E ratio of -48.97 and a beta of 1.56.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period in the prior year, the business posted ($0.82) EPS. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. Sell-side analysts expect that The Boeing Company will post -2.38 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.