Allspring Global Investments Holdings LLC Increases Position in The Boeing Company (NYSE:BA)

Allspring Global Investments Holdings LLC raised its position in shares of The Boeing Company (NYSE:BA - Free Report) by 13.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,636 shares of the aircraft producer's stock after acquiring an additional 13,180 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Boeing were worth $18,774,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Boeing by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock worth $11,406,361,000 after purchasing an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock valued at $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Northern Trust Corp lifted its position in Boeing by 33.6% during the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock worth $1,151,316,000 after buying an additional 1,634,231 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Boeing by 30.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer's stock worth $739,585,000 after buying an additional 981,796 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in Boeing during the fourth quarter worth $568,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Trading Up 1.8%

Boeing stock traded up $3.72 during midday trading on Friday, reaching $215.75. 4,476,122 shares of the stock traded hands, compared to its average volume of 9,472,233. The firm has a market cap of $162.68 billion, a PE ratio of -12.04 and a beta of 1.41. The company has a 50-day simple moving average of $202.13 and a two-hundred day simple moving average of $181.36. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $218.80.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.13) EPS. Equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

BA has been the subject of a number of recent research reports. Wall Street Zen downgraded Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Susquehanna restated a "positive" rating and set a $240.00 price objective (up from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Benchmark reduced their target price on shares of Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Melius Research set a $204.00 price target on shares of Boeing in a research note on Monday, March 24th. Finally, Sanford C. Bernstein raised shares of Boeing from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $181.00 to $218.00 in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $215.77.

Insiders Place Their Bets

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president owned 13,258 shares in the company, valued at $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president owned 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,744 shares of company stock worth $1,511,370 in the last ninety days. 0.09% of the stock is owned by corporate insiders.

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.