Federation des caisses Desjardins du Quebec Acquires 4,302 Shares of The Boeing Company $BA

Key Points

• The Federation des caisses Desjardins du Quebec increased its holdings in Boeing by 9.2% in the first quarter, bringing its total shares owned to 51,003, valued at $8.7 million.
• Boeing reported earnings per share of ($1.24), missing estimates, but its revenue rose by 34.9% year-over-year to $22.75 billion.
• Analysts have varying ratings on Boeing, with a consensus of "Moderate Buy" and a price target of $228.90.

Federation des caisses Desjardins du Quebec increased its position in shares of The Boeing Company (NYSE:BA - Free Report) by 9.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,003 shares of the aircraft producer's stock after buying an additional 4,302 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Boeing were worth $8,699,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock valued at $715,979,000 after purchasing an additional 19,615 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Boeing by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer's stock worth $502,933,000 after acquiring an additional 369,306 shares during the period. Zimmer Partners LP purchased a new position in shares of Boeing during the 4th quarter valued at approximately $393,736,000. Finally, Swiss National Bank grew its holdings in shares of Boeing by 2.5% in the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer's stock valued at $359,895,000 after purchasing an additional 51,700 shares during the period. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Price Performance

Shares of BA stock traded up $1.28 during midday trading on Monday, hitting $230.89. The company had a trading volume of 5,947,476 shares, compared to its average volume of 8,233,612. The company's 50 day simple moving average is $227.54 and its 200 day simple moving average is $197.88. The stock has a market cap of $174.59 billion, a price-to-earnings ratio of -13.99 and a beta of 1.48. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last released 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 firm had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. Boeing's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.90) earnings per share. Analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

BA has been the subject of several research analyst reports. The Goldman Sachs Group set a $212.00 price objective on Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $250.00 price target on shares of Boeing in a report on Wednesday, July 30th. Citigroup reissued a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Wall Street Zen downgraded Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Finally, Susquehanna boosted their target price on shares of Boeing from $265.00 to $270.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $230.77.

Insider Activity at Boeing

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

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.