New York State Teachers Retirement System Buys 5,153 Shares of The Boeing Company $BA

Key Points

• The New York State Teachers Retirement System increased its stake in Boeing by 0.9%, acquiring an additional 5,153 shares during the second quarter, bringing its total ownership to 561,566 shares valued at approximately $117.67 million.
• Wall Street analysts have shown increased confidence in Boeing, with several upgrades, including a "buy" rating from Rothschild & Co Redburn and a price target of $275.00.
• Boeing reported earnings of (-$1.24) per share for the last quarter, missing expectations but achieving a revenue of $22.75 billion, which was significantly above analysts’ estimates.

New York State Teachers Retirement System raised its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 0.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 561,566 shares of the aircraft producer's stock after acquiring an additional 5,153 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Boeing worth $117,665,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in BA. Piscataqua Savings Bank raised its holdings in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after buying an additional 137 shares during the last quarter. Proathlete Wealth Management LLC bought a new position in shares of Boeing in the first quarter valued at about $34,000. Monetary Management Group Inc. raised its holdings in shares of Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after buying an additional 50 shares during the last quarter. Keener Financial Planning LLC bought a new position in shares of Boeing in the second quarter valued at about $41,000. Finally, Columbia River Financial Group LLC bought a new position in shares of Boeing in the first quarter valued at about $50,000. 64.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BA shares. Rothschild & Co Redburn raised 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. JPMorgan Chase & Co. lifted their price target on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 price objective on shares of Boeing in a research report on Monday, September 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Boeing in a research report on Wednesday, October 8th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and a consensus price target of $240.20.

Boeing Trading Down 0.1%

Boeing stock opened at $214.08 on Thursday. The firm has a market capitalization of $161.88 billion, a P/E ratio of -12.97 and a beta of 1.47. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The business has a 50-day moving average of $223.73 and a 200-day moving average of $206.97.

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

Insider Buying and Selling

In related news, EVP David Christopher Raymond sold 3,771 shares of the business'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 sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, 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. 0.09% of the stock is currently owned by corporate insiders.

About Boeing

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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