Sumitomo Mitsui Trust Holdings Inc. Raises Stock Position in The Boeing Company (NYSE:BA)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of The Boeing Company (NYSE:BA) by 0.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,637,638 shares of the aircraft producer’s stock after buying an additional 1,835 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Boeing were worth $316,048,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Boeing in the 4th quarter worth about $28,000. Evolution Advisers Inc. purchased a new position in Boeing during the 4th quarter valued at about $28,000. Vima LLC bought a new position in Boeing during the 4th quarter valued at approximately $34,000. Finally, Accent Capital Management LLC bought a new stake in Boeing during the 4th quarter valued at about $39,000. 64.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BA shares. Barclays reduced their price objective on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. TD Cowen dropped their target price on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, March 25th. Morgan Stanley lowered their price target on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. UBS Group cut their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Finally, Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $220.89.

Boeing Stock Down 0.9 %

NYSE BA traded down $1.60 on Wednesday, reaching $183.82. The company had a trading volume of 1,102,723 shares, compared to its average volume of 8,465,640. The stock has a market capitalization of $112.84 billion, a PE ratio of -52.23 and a beta of 1.56. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The firm’s 50 day moving average price is $178.82 and its 200 day moving average price is $197.56.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.43) by $0.30. The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $17.69 billion. On average, research analysts expect that The Boeing Company will post -1.67 EPS for the current year.

Boeing 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.