BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stock Holdings in The Boeing Company $BA

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in The Boeing Company by 2.5%, now holding 143,082 shares valued at approximately $24.4 million.
• The company reported a quarterly revenue of $22.75 billion, exceeding analysts' expectations, though it posted an earnings loss of ($1.24) per share, missing estimates by ($0.32).
• Several hedge funds have recently increased their holdings in Boeing, with institutional investors now owning 64.82% of the company's stock.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,082 shares of the aircraft producer's stock after buying an additional 3,549 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Boeing were worth $24,403,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Monetary Management Group Inc. raised its holdings in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after purchasing an additional 50 shares in the last quarter. Heritage Financial Services LLC raised its holdings in Boeing by 4.2% during the first quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer's stock worth $216,000 after purchasing an additional 51 shares in the last quarter. Wood Tarver Financial Group LLC raised its holdings in Boeing by 14.3% during the first quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer's stock worth $75,000 after purchasing an additional 55 shares in the last quarter. Signature Wealth Management Partners LLC raised its holdings in Boeing by 2.0% during the first quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer's stock worth $493,000 after purchasing an additional 57 shares in the last quarter. Finally, Byrne Financial Freedom LLC raised its holdings in Boeing by 3.0% during the first quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer's stock worth $340,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Price Performance

Shares of NYSE:BA opened at $229.7750 on Friday. The business's 50 day simple moving average is $221.17 and its 200-day simple moving average is $194.34. The firm has a market capitalization of $173.75 billion, a price-to-earnings ratio of -13.92 and a beta of 1.48. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. During the same period in the prior year, the business earned ($2.90) EPS. The company's quarterly revenue was up 34.9% compared to the same quarter last year. On average, equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

BA has been the subject of several analyst reports. Bank of America increased their price target on shares of Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a report on Friday, June 27th. UBS Group set a $280.00 price target on shares of Boeing and gave the stock a "buy" rating in a report on Wednesday, July 30th. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and increased their price target for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Finally, TD Securities cut shares of Boeing to a "cautious" rating in a report on Thursday, May 22nd. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $228.90.

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.

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