Nomura Asset Management Co. Ltd. increased its position in Boeing Co (NYSE:BA) by 22.1% during the first quarter, Holdings Channel reports. The fund owned 153,803 shares of the aircraft producer’s stock after purchasing an additional 27,804 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Boeing were worth $22,938,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in BA. Wealth Quarterback LLC acquired a new position in shares of Boeing in the fourth quarter worth about $9,702,310,000. Capital World Investors boosted its holdings in shares of Boeing by 16.7% in the fourth quarter. Capital World Investors now owns 26,557,559 shares of the aircraft producer’s stock worth $8,651,391,000 after buying an additional 3,799,008 shares during the period. Capital Research Global Investors boosted its holdings in shares of Boeing by 190.2% in the fourth quarter. Capital Research Global Investors now owns 4,118,742 shares of the aircraft producer’s stock worth $1,341,721,000 after buying an additional 2,699,641 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Boeing by 586.4% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 675,145 shares of the aircraft producer’s stock worth $219,935,000 after buying an additional 576,784 shares during the period. Finally, Banco Santander S.A. boosted its holdings in shares of Boeing by 330.7% in the first quarter. Banco Santander S.A. now owns 584,178 shares of the aircraft producer’s stock worth $87,125,000 after buying an additional 448,540 shares during the period. 61.88% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on BA shares. Benchmark reiterated a “market perform” rating and issued a $180.00 target price on shares of Boeing in a report on Monday, May 11th. Barclays reissued a “neutral” rating and issued a $125.00 price target on shares of Boeing in a research report on Friday, May 1st. Berenberg Bank reissued a “neutral” rating and issued a $150.00 price target (down from $350.00) on shares of Boeing in a research report on Tuesday, April 7th. Citigroup lowered shares of Boeing from a “buy” rating to a “neutral” rating and set a $175.00 price target for the company. in a research report on Monday, April 20th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $238.00 price target (up from $209.00) on shares of Boeing in a research report on Monday. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $237.54.
Shares of NYSE:BA traded down $21.67 during trading on Thursday, reaching $181.74. The stock had a trading volume of 61,978,432 shares, compared to its average volume of 27,008,479. Boeing Co has a 52 week low of $89.00 and a 52 week high of $391.00. The firm has a market capitalization of $103.37 billion, a price-to-earnings ratio of -29.81 and a beta of 1.44. The stock has a fifty day simple moving average of $144.32 and a two-hundred day simple moving average of $245.73.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 29th. The aircraft producer reported ($1.70) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.04) by $0.34. Boeing had a negative net margin of 4.84% and a negative return on equity of 3.08%. The company had revenue of $16.91 billion for the quarter, compared to analyst estimates of $16.90 billion. During the same quarter last year, the firm posted $3.16 earnings per share. The company’s quarterly revenue was down 26.2% compared to the same quarter last year. On average, equities analysts expect that Boeing Co will post -5.05 earnings per share for the current fiscal year.
Boeing Company Profile
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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