Public Employees Retirement System of Ohio Has $61.93 Million Stock Holdings in The Boeing Company $BA

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Boeing by 4.0%, currently holding 295,578 shares valued at approximately $61.93 million.
• Barclays and other analysts have recently increased Boeing's target price, with Barclays raising it from $210 to $255 and several others assigning a "Buy" or "Overweight" rating.
• Despite the positive ratings, Boeing reported a quarterly loss of ($1.24) EPS, missing analysts' expectations, though revenue was up 34.9% year-over-year.

Public Employees Retirement System of Ohio cut its position in The Boeing Company (NYSE:BA - Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,578 shares of the aircraft producer's stock after selling 12,189 shares during the period. Public Employees Retirement System of Ohio's holdings in Boeing were worth $61,932,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lynch & Associates IN boosted its stake in Boeing by 3.5% during the 2nd quarter. Lynch & Associates IN now owns 19,849 shares of the aircraft producer's stock valued at $4,159,000 after purchasing an additional 667 shares during the last quarter. Northside Capital Management LLC purchased a new position in shares of Boeing in the 2nd quarter worth approximately $362,000. IMS Capital Management purchased a new position in Boeing in the second quarter valued at approximately $1,465,000. Financial Management Professionals Inc. lifted its stake in Boeing by 19.0% in the second quarter. Financial Management Professionals Inc. now owns 790 shares of the aircraft producer's stock valued at $166,000 after purchasing an additional 126 shares during the last quarter. Finally, Norden Group LLC lifted its stake in Boeing by 0.8% in the second quarter. Norden Group LLC now owns 6,875 shares of the aircraft producer's stock valued at $1,441,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Insider Transactions at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were bought 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 directly owned 2,200 shares of the company's stock, valued at approximately $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays upped their price objective on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Vertical Research raised shares of Boeing from a "hold" rating to a "buy" rating and boosted their target price for the company from $242.00 to $270.00 in a report on Monday, September 8th. Citigroup reissued a "buy" rating on shares of Boeing in a report on Monday, July 28th. Finally, Jefferies Financial Group boosted their target price on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $230.77.

Boeing Stock Up 2.0%

NYSE BA opened at $216.30 on Wednesday. The stock's 50-day simple moving average is $227.33 and its two-hundred day simple moving average is $201.83. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The company has a market capitalization of $163.56 billion, a price-to-earnings ratio of -13.10 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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 quarter last year, the firm earned ($2.90) EPS. The firm's quarterly revenue was up 34.9% on a year-over-year basis. On average, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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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