Intech Investment Management LLC Raises Position in The Boeing Company $BA

Key Points

• Intech Investment Management LLC increased its holdings in The Boeing Company by 15.6%, acquiring an additional 5,071 shares, raising its total ownership to 37,497 shares worth approximately $6.4 million.
• Boeing reported a quarterly earnings loss of ($1.24) per share, missing analysts' expectations, but its revenue of $22.75 billion exceeded estimates, reflecting a 34.9% year-over-year increase.
• Several analysts have upgraded their ratings on Boeing stock, with Redburn Atlantic raising its price target to $275.00, indicating strong confidence in the company's future performance.

Intech Investment Management LLC raised its stake in The Boeing Company (NYSE:BA - Free Report) by 15.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,497 shares of the aircraft producer's stock after purchasing an additional 5,071 shares during the period. Intech Investment Management LLC's holdings in Boeing were worth $6,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BA. Revolve Wealth Partners LLC acquired a new position in Boeing during the fourth quarter worth approximately $201,000. Bank Pictet & Cie Europe AG acquired a new position in Boeing during the fourth quarter worth approximately $7,837,000. Triumph Capital Management increased its position in Boeing by 12.8% during the fourth quarter. Triumph Capital Management now owns 9,557 shares of the aircraft producer's stock worth $1,692,000 after buying an additional 1,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Boeing by 25.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,672 shares of the aircraft producer's stock worth $13,040,000 after buying an additional 14,925 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its position in Boeing by 24.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 87,346 shares of the aircraft producer's stock worth $15,785,000 after buying an additional 17,027 shares during the period. Institutional investors and hedge funds own 64.82% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BA shares. Barclays boosted their target price on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Vertical Research upgraded Boeing from a "hold" rating to a "buy" rating and lifted their price target for the company from $242.00 to $270.00 in a research note on Monday, September 8th. Royal Bank Of Canada restated an "outperform" rating and issued a $250.00 price target on shares of Boeing in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Bank of America lifted their price target on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Boeing currently has an average rating of "Moderate Buy" and a consensus target price of $230.77.

Boeing Trading Down 1.8%

Shares of NYSE:BA traded down $3.87 on Friday, hitting $216.12. The company had a trading volume of 11,078,950 shares, compared to its average volume of 6,130,396. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The business has a 50 day moving average of $228.76 and a 200 day moving average of $199.21. The company has a market cap of $163.42 billion, a PE ratio of -13.09 and a beta of 1.48.

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

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president owned 35,873 shares of the company's stock, valued at $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. Corporate insiders own 0.09% of the company's stock.

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.