Capital Research Global Investors raised its holdings in Boeing Co (NYSE:BA) by 190.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,118,742 shares of the aircraft producer’s stock after purchasing an additional 2,699,641 shares during the period. Capital Research Global Investors owned 0.73% of Boeing worth $1,341,721,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wealth Quarterback LLC acquired a new position in shares of Boeing in the fourth quarter worth $9,702,310,000. Capital World Investors increased its position in Boeing by 16.7% during the 4th quarter. Capital World Investors now owns 26,557,559 shares of the aircraft producer’s stock worth $8,651,391,000 after purchasing an additional 3,799,008 shares in the last quarter. Johanson Financial Advisors Inc. raised its stake in Boeing by 35,366.3% in the 4th quarter. Johanson Financial Advisors Inc. now owns 2,840,145 shares of the aircraft producer’s stock valued at $8,716,000 after purchasing an additional 2,832,137 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Boeing by 586.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 675,145 shares of the aircraft producer’s stock valued at $219,935,000 after purchasing an additional 576,784 shares during the last quarter. Finally, Annex Advisory Services LLC lifted its holdings in Boeing by 2,552.0% in the 4th quarter. Annex Advisory Services LLC now owns 265,755 shares of the aircraft producer’s stock valued at $4,390,000 after purchasing an additional 255,734 shares in the last quarter. 67.74% of the stock is currently owned by institutional investors.
BA has been the topic of several analyst reports. Goldman Sachs Group upgraded shares of Boeing from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $256.00 to $173.00 in a report on Sunday. Cfra cut shares of Boeing to a “hold” rating and set a $350.00 target price for the company. in a research note on Wednesday, January 22nd. Vertical Research downgraded Boeing from a “buy” rating to a “hold” rating and cut their price target for the company from $388.00 to $294.00 in a report on Wednesday, January 22nd. Canaccord Genuity reduced their price target on Boeing from $340.00 to $225.00 and set a “hold” rating on the stock in a research note on Thursday, March 12th. Finally, UBS Group set a $333.00 price objective on Boeing and gave the stock a “neutral” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $298.17.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 29th. The aircraft producer reported ($2.33) earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($3.80). Boeing had a negative net margin of 0.83% and a negative return on equity of 70.76%. The business had revenue of $17.91 billion for the quarter, compared to analyst estimates of $21.76 billion. During the same period last year, the firm earned $5.48 earnings per share. The company’s quarterly revenue was down 36.8% on a year-over-year basis. On average, analysts expect that Boeing Co will post 0.91 earnings per share for the current fiscal year.
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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