The Boeing Company (NYSE:BA) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its position in shares of The Boeing Company (NYSE:BA) by 563.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,439,093 shares of the aircraft producer’s stock after purchasing an additional 2,921,043 shares during the quarter. Wellington Management Group LLP owned approximately 0.56% of Boeing worth $896,434,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its stake in Boeing by 1.0% in the 3rd quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock worth $841,000 after acquiring an additional 45 shares in the last quarter. Benchmark Financial Wealth Advisors LLC lifted its stake in Boeing by 2.7% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock worth $465,000 after purchasing an additional 47 shares during the period. WealthPlan Investment Management LLC increased its holdings in shares of Boeing by 1.0% during the fourth quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock worth $1,229,000 after buying an additional 49 shares in the last quarter. RB Capital Management LLC lifted its position in shares of Boeing by 2.7% during the third quarter. RB Capital Management LLC now owns 1,893 shares of the aircraft producer’s stock worth $363,000 after purchasing an additional 50 shares in the last quarter. Finally, M&R Capital Management Inc. grew its position in shares of Boeing by 35.0% during the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock worth $50,000 after buying an additional 50 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BA has been the subject of several research analyst reports. Melius reiterated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Baird R W upgraded Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Bank of America raised their target price on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup decreased their price target on shares of Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Benchmark reissued a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $220.89.

Boeing Stock Performance

BA traded down $3.43 during midday trading on Friday, reaching $177.27. The company had a trading volume of 5,105,974 shares, compared to its average volume of 5,770,378. The business has a 50-day moving average price of $177.44 and a two-hundred day moving average price of $202.43. The Boeing Company has a 12-month low of $159.70 and a 12-month high of $267.54. The stock has a market cap of $108.82 billion, a PE ratio of -49.94 and a beta of 1.55.

Boeing (NYSE:BA) last released its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.30. The firm had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $17.69 billion. On average, research analysts anticipate that The Boeing Company will post -1.48 earnings per share for the current year.

About Boeing

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.