Mitsubishi UFJ Asset Management UK Ltd. Purchases New Shares in The Boeing Company (NYSE:BA)

Mitsubishi UFJ Asset Management UK Ltd. bought a new position in shares of The Boeing Company (NYSE:BA) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 18,000 shares of the aircraft producer’s stock, valued at approximately $3,186,000. Boeing comprises about 1.4% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 17th largest holding.

A number of other large investors also recently added to or reduced their stakes in the business. AdvisorNet Financial Inc lifted its holdings in Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after purchasing an additional 710 shares during the last quarter. Carnegie Investment Counsel boosted its stake in shares of Boeing by 175.6% during the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after purchasing an additional 2,943 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after acquiring an additional 38,300 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after buying an additional 38,332 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Robert W. Baird lowered their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. The Goldman Sachs Group cut their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Finally, Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $190.00 to $210.00 in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Performance

BA stock opened at $175.63 on Wednesday. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $217.59. The stock’s 50 day moving average price is $163.59 and its 200 day moving average price is $164.52. The firm has a market cap of $108.58 billion, a P/E ratio of -13.61 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($3.26) earnings per share. On average, research analysts predict that The Boeing Company will post -16.43 earnings per share for the current 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.