The Boeing Company (NYSE:BA) Stake Increased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in The Boeing Company by 10.0% during the first quarter, now holding 133,985 shares worth approximately $22.86 million.
• Multiple institutional investors have also recently increased their positions in Boeing, with several new stakes valued in the hundreds of millions of dollars being reported.
• Boeing's quarterly earnings indicated a 34.9% year-over-year revenue increase, although the company reported a miss in earnings per share by 32 cents compared to expectations.

Russell Investments Group Ltd. raised its stake in The Boeing Company (NYSE:BA - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,985 shares of the aircraft producer's stock after buying an additional 12,200 shares during the quarter. Russell Investments Group Ltd.'s holdings in Boeing were worth $22,857,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd acquired a new position in Boeing during the 1st quarter worth about $853,000. Resona Asset Management Co. Ltd. increased its holdings in shares of Boeing by 11.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 232,080 shares of the aircraft producer's stock valued at $39,679,000 after acquiring an additional 23,357 shares during the last quarter. Rathbones Group PLC increased its holdings in shares of Boeing by 13.8% in the 1st quarter. Rathbones Group PLC now owns 8,302 shares of the aircraft producer's stock valued at $1,416,000 after acquiring an additional 1,008 shares during the last quarter. Callan Family Office LLC grew its stake in Boeing by 89.2% during the 1st quarter. Callan Family Office LLC now owns 9,454 shares of the aircraft producer's stock worth $1,612,000 after buying an additional 4,457 shares during the last quarter. Finally, Stone House Investment Management LLC purchased a new position in Boeing during the 1st quarter worth approximately $102,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BA shares. TD Securities downgraded Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and lifted their price objective for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Citigroup reaffirmed a "buy" rating on shares of Boeing in a report on Monday, July 28th. JPMorgan Chase & Co. lifted their price objective on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and an average target price of $228.90.

Boeing Stock Up 0.9%

Shares of NYSE:BA traded up $2.12 during trading on Friday, hitting $235.31. 6,285,891 shares of the company traded hands, compared to its average volume of 6,798,152. The stock has a market capitalization of $177.93 billion, a price-to-earnings ratio of -14.25 and a beta of 1.48. The business's fifty day moving average is $219.45 and its 200-day moving average is $192.62. The Boeing Company has a one year low of $128.88 and a one year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. Boeing's quarterly revenue was up 34.9% on a year-over-year basis. During the same period last year, the business earned ($2.90) earnings per share. On average, analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

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 transaction of $867,103.74. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company's stock.

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.