Korea Investment CORP Raises Holdings in The Boeing Company $BA

Key Points

• Korea Investment CORP increased its stake in The Boeing Company by 3.0% to a total of 464,134 shares during the first quarter, now representing a value of approximately $79.2 million.
• Multiple hedge funds also adjusted their positions, with Wood Tarver Financial Group LLC raising its holdings by 14.3%, joining several others in increasing their investments in Boeing.
• Analysts have mixed opinions on Boeing, with reports showing price targets ranging from $215.00 to $275.00, and a consensus rating of "Moderate Buy."

Korea Investment CORP boosted its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 464,134 shares of the aircraft producer's stock after purchasing an additional 13,466 shares during the period. Korea Investment CORP owned about 0.06% of Boeing worth $79,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wood Tarver Financial Group LLC boosted its stake in shares of Boeing by 14.3% in the 1st quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer's stock worth $75,000 after buying an additional 55 shares during the last quarter. Signature Wealth Management Partners LLC boosted its stake in shares of Boeing by 2.0% in the 1st quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer's stock worth $493,000 after buying an additional 57 shares during the last quarter. Byrne Financial Freedom LLC boosted its stake in shares of Boeing by 3.0% in the 1st quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer's stock worth $340,000 after buying an additional 58 shares during the last quarter. HighPoint Advisor Group LLC boosted its stake in shares of Boeing by 0.3% in the 1st quarter. HighPoint Advisor Group LLC now owns 19,657 shares of the aircraft producer's stock worth $3,578,000 after buying an additional 58 shares during the last quarter. Finally, WBH Advisory Inc. boosted its stake in shares of Boeing by 2.6% in the 1st quarter. WBH Advisory Inc. now owns 2,304 shares of the aircraft producer's stock worth $393,000 after buying an additional 58 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction on Friday, August 8th. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BA shares. Barclays raised their price target on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. TD Securities downgraded Boeing to a "cautious" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a research report on Thursday, June 12th. Cowen reiterated a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $250.00 target price on shares of Boeing in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $228.90.

Boeing Stock Down 3.0%

BA stock traded down $7.01 during trading on Tuesday, reaching $225.40. The company's stock had a trading volume of 8,937,169 shares, compared to its average volume of 7,027,632. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The company has a market capitalization of $170.44 billion, a P/E ratio of -13.65 and a beta of 1.48. The company's fifty day moving average is $219.94 and its 200-day moving average is $193.33.

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

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.