Strs Ohio Acquires Shares of 580,383 The Boeing Company $BA

Key Points

• Strs Ohio has invested approximately $98.98 million to acquire 580,383 shares of The Boeing Company, giving it ownership of 0.08% of the company's stock.
• Boeing's stock recently opened at $227.41, with a market capitalization of $171.96 billion and a price-to-earnings ratio of -13.77.
• The company reported a loss of $1.24 per share for the last quarter, missing analysts' expectations, although revenue increased by 34.9% year-over-year to $22.75 billion.

Strs Ohio bought a new position in The Boeing Company (NYSE:BA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 580,383 shares of the aircraft producer's stock, valued at approximately $98,984,000. Strs Ohio owned approximately 0.08% of Boeing as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American National Bank & Trust lifted its stake in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after buying an additional 128 shares in the last quarter. REAP Financial Group LLC lifted its stake in shares of Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after buying an additional 65 shares in the last quarter. Dogwood Wealth Management LLC lifted its stake in shares of Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after buying an additional 112 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Boeing in the fourth quarter worth approximately $33,000. Finally, Proathlete Wealth Management LLC bought a new position in shares of Boeing in the first quarter worth approximately $34,000. Institutional investors own 64.82% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BA. Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 target price on shares of Boeing in a research note on Wednesday, July 30th. UBS Group set a $280.00 price objective on shares of Boeing and gave the company a "buy" rating in a research report on Wednesday, July 30th. Citigroup restated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Barclays increased their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Morgan Stanley restated 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, eighteen have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.77.

Insiders Place Their Bets

In related news, Director Mortimer J. Buckley bought 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, with a total value of $497,420.00. Following the completion of the purchase, the director owned 2,200 shares of the company's stock, valued at approximately $497,420. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction on Friday, August 8th. The shares were 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 $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Boeing Trading Down 1.8%

BA stock traded down $3.87 during midday trading on Friday, reaching $216.12. 11,078,950 shares of the company's stock traded hands, compared to its average volume of 6,130,396. The stock's 50-day moving average is $228.76 and its 200 day moving average is $199.39. The stock has a market cap of $163.42 billion, a P/E ratio of -13.09 and a beta of 1.48. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last announced 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 firm had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. Boeing's quarterly revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the business posted ($2.90) earnings per share. As a group, research analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Boeing Company 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.