Principal Financial Group Inc. Has $143.94 Million Stock Position in The Boeing Company (NYSE:BA)

Principal Financial Group Inc. cut its position in shares of The Boeing Company (NYSE:BA - Free Report) by 0.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 843,957 shares of the aircraft producer's stock after selling 1,234 shares during the period. Principal Financial Group Inc. owned 0.11% of Boeing worth $143,937,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Revolve Wealth Partners LLC bought a new position in Boeing during the fourth quarter valued at about $201,000. Bank Pictet & Cie Europe AG bought a new stake in shares of Boeing during the fourth quarter valued at approximately $7,837,000. Bailard Inc. increased its position in shares of Boeing by 18.5% during the fourth quarter. Bailard Inc. now owns 1,624 shares of the aircraft producer's stock valued at $287,000 after purchasing an additional 253 shares during the period. Assetmark Inc. increased its position in shares of Boeing by 92.4% during the fourth quarter. Assetmark Inc. now owns 2,034 shares of the aircraft producer's stock valued at $360,000 after purchasing an additional 977 shares during the period. Finally, Atria Investments Inc increased its position in shares of Boeing by 0.5% during the fourth quarter. Atria Investments Inc now owns 65,874 shares of the aircraft producer's stock valued at $11,660,000 after purchasing an additional 312 shares during the period. Institutional investors own 64.82% of the company's stock.

Boeing Trading Up 1.2%

Shares of NYSE:BA traded up $2.50 during midday trading on Monday, hitting $218.42. The company had a trading volume of 5,799,998 shares, compared to its average volume of 9,482,294. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $218.80. The stock has a market cap of $164.69 billion, a price-to-earnings ratio of -12.19 and a beta of 1.41. The firm has a fifty day simple moving average of $202.13 and a 200 day simple moving average of $181.45.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.13) earnings per share. Equities analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, EVP Jeffrey S. Shockey sold 3,205 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president owned 20,513 shares of the company's stock, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the sale, the executive vice president directly owned 42,513 shares in the company, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock worth $1,511,370 in the last 90 days. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BA. Morgan Stanley set a $200.00 price target on shares of Boeing and gave the company an "equal weight" rating in a report on Thursday, June 12th. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Benchmark lowered their price objective on Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and upped their price objective for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Finally, UBS Group upped their price target on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Four analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Boeing currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.77.

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.