The Boeing Company $BA Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in The Boeing Company by 6.3%, bringing its total holdings to 335,372 shares valued at approximately $70.27 million.
• Boeing reported a quarterly loss of ($1.24) EPS, which was larger than analysts' expectations, but achieved revenue of $22.75 billion, surpassing estimates.
• Analysts have varied opinions on Boeing's stock, with target prices ranging from $250.00 to $275.00 and a consensus rating of "Moderate Buy."

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in The Boeing Company (NYSE:BA - Free Report) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 335,372 shares of the aircraft producer's stock after acquiring an additional 19,750 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Boeing were worth $70,270,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vestcor Inc boosted its stake in shares of Boeing by 9.0% in the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after buying an additional 1,195 shares during the period. National Pension Service lifted its stake in Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock worth $227,365,000 after purchasing an additional 218,049 shares during the last quarter. Wynn Capital LLC acquired a new position in Boeing in the first quarter valued at approximately $584,000. MFG Wealth Management Inc. acquired a new position in Boeing in the first quarter valued at approximately $2,125,000. Finally, Kelman Lazarov Inc. acquired a new position in Boeing in the first quarter valued at approximately $262,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BA. Barclays upped their price target on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Susquehanna reaffirmed a "positive" rating and issued a $270.00 price target on shares of Boeing in a report on Monday, September 15th. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $180.00 to $275.00 in a report on Friday, June 27th. Finally, Vertical Research raised Boeing from a "hold" rating to a "buy" rating and upped their price target for the company from $242.00 to $270.00 in a report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and a consensus price target of $230.77.

Boeing Trading Down 1.6%

Shares of Boeing stock traded down $3.39 during trading hours on Monday, hitting $212.26. 7,340,549 shares of the company were exchanged, compared to its average volume of 6,313,642. 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 $227.61 and a 200-day moving average of $201.73. The stock has a market capitalization of $160.50 billion, a price-to-earnings ratio of -12.86 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) 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 analyst estimates of $20.13 billion. During the same period in the previous year, the business earned ($2.90) EPS. Boeing's revenue was up 34.9% on a year-over-year basis. As a group, research analysts anticipate 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.