Sumitomo Mitsui DS Asset Management Company Ltd Purchases 19,750 Shares of The Boeing Company $BA

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

Other institutional investors and hedge funds have also modified their holdings of the company. American National Bank & Trust lifted its holdings 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 valued at $26,000 after purchasing an additional 128 shares in the last quarter. REAP Financial Group LLC increased its position in Boeing by 60.2% during 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 position 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 valued at $32,000 after acquiring an additional 112 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Boeing during the 4th quarter worth about $33,000. Finally, Proathlete Wealth Management LLC purchased a new position in shares of Boeing during the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Insider Activity

In other news, EVP David Christopher Raymond sold 3,771 shares of Boeing 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 sale, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley bought 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 acquisition, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

BA has been the subject of several research analyst reports. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and upped their price target for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. UBS Group set a $280.00 target price on shares of Boeing and gave the company a "buy" rating in a report on Wednesday, July 30th. Barclays increased their target price on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group lifted their target price on Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Boeing has an average rating of "Moderate Buy" and a consensus price target of $230.77.

Boeing Price Performance

BA traded down $3.26 during trading on Monday, reaching $212.39. The company had a trading volume of 3,857,879 shares, compared to its average volume of 8,187,727. The company has a market cap of $160.60 billion, a P/E ratio of -12.86 and a beta of 1.48. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The business's fifty day moving average price is $227.97 and its 200 day moving average price is $201.33.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. The business's revenue was up 34.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.90) EPS. As a group, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.