Sumitomo Mitsui DS Asset Management Company Ltd Acquires 20,558 Shares of The Boeing Company (NYSE:BA)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 7.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 315,622 shares of the aircraft producer's stock after acquiring an additional 20,558 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Boeing were worth $53,829,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock valued at $11,406,361,000 after buying an additional 12,641,715 shares during the period. Geode Capital Management LLC increased its stake in shares of Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock valued at $2,677,170,000 after acquiring an additional 3,452,075 shares in the last quarter. Northern Trust Corp increased its stake in shares of Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock valued at $1,151,316,000 after acquiring an additional 1,634,231 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Boeing by 30.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer's stock valued at $739,585,000 after acquiring an additional 981,796 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Boeing in the fourth quarter worth $568,000. 64.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Cowen reaffirmed a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. Bank of America raised Boeing from a "neutral" rating to a "buy" rating and upped their price target for the stock from $185.00 to $260.00 in a research note on Monday, June 2nd. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Finally, TD Securities lowered Boeing to a "cautious" rating in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Boeing currently has a consensus rating of "Moderate Buy" and an average target price of $215.77.

Boeing Trading Up 1.8%

Shares of BA stock traded up $3.72 during trading on Thursday, hitting $215.75. The company's stock had a trading volume of 4,471,325 shares, compared to its average volume of 9,445,495. The company has a market cap of $162.68 billion, a PE ratio of -12.04 and a beta of 1.41. The business has a fifty day moving average of $200.59 and a 200-day moving average of $180.77. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.13) EPS. As a group, research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president owned 20,513 shares in the company, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president directly owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is owned by company insiders.

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.