iA Global Asset Management Inc. Purchases 74,694 Shares of The Boeing Company (NYSE:BA)

iA Global Asset Management Inc. increased its position in The Boeing Company (NYSE:BA) by 3,525.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,813 shares of the aircraft producer’s stock after buying an additional 74,694 shares during the quarter. iA Global Asset Management Inc.’s holdings in Boeing were worth $13,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of BA. Raymond James Financial Inc. bought a new stake in Boeing in the fourth quarter valued at approximately $230,944,000. Amundi lifted its position in Boeing by 473.6% in the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock valued at $268,862,000 after purchasing an additional 1,292,417 shares during the last quarter. Burkehill Global Management LP bought a new stake in Boeing in the fourth quarter valued at approximately $212,400,000. Franklin Resources Inc. lifted its position in Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after purchasing an additional 1,055,472 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Boeing by 30.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after purchasing an additional 981,796 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BA. Citigroup boosted their price objective on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Susquehanna boosted their target price on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Finally, StockNews.com raised Boeing to a “sell” rating in a research note on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.68.

Boeing Trading Up 6.8 %

NYSE BA opened at $172.57 on Thursday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $196.95. The stock has a market cap of $129.44 billion, a P/E ratio of -9.42 and a beta of 1.53. The stock’s fifty day moving average price is $172.84 and its 200-day moving average price is $163.47.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the firm earned ($0.47) earnings per share. As a group, analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.