Sumitomo Mitsui Trust Group Inc. Increases Stock Position in The Boeing Company (NYSE:BA)

Sumitomo Mitsui Trust Group Inc. raised its stake in The Boeing Company (NYSE:BA - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,968,748 shares of the aircraft producer's stock after buying an additional 69,560 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Boeing worth $335,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC purchased a new stake in shares of Boeing in the 4th quarter worth approximately $201,000. Bank Pictet & Cie Europe AG purchased a new stake in shares of Boeing in the 4th quarter worth approximately $7,837,000. Advisor OS LLC lifted its position in shares of Boeing by 3.1% in the 4th quarter. Advisor OS LLC now owns 2,277 shares of the aircraft producer's stock worth $403,000 after purchasing an additional 68 shares during the period. Cable Hill Partners LLC purchased a new stake in shares of Boeing in the 4th quarter worth approximately $223,000. Finally, Kovack Advisors Inc. lifted its position in shares of Boeing by 11.1% in the 4th quarter. Kovack Advisors Inc. now owns 6,858 shares of the aircraft producer's stock worth $1,214,000 after purchasing an additional 687 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. The Goldman Sachs Group set a $212.00 price objective on shares of Boeing and gave the stock a "buy" rating in a research note on Thursday, June 12th. Jefferies Financial Group boosted their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Sanford C. Bernstein upgraded shares of Boeing from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $181.00 to $218.00 in a research note on Monday, April 28th. Cowen reiterated a "buy" rating on shares of Boeing in a research note on Wednesday, May 7th. Finally, Morgan Stanley set a $200.00 price objective on shares of Boeing and gave the stock an "equal weight" rating in a research note on Thursday, June 12th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.77.

Boeing Price Performance

Boeing stock traded up $11.98 during mid-day trading on Friday, reaching $214.56. 14,787,018 shares of the company traded hands, compared to its average volume of 9,457,877. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $218.80. The company has a market capitalization of $161.78 billion, a price-to-earnings ratio of -11.97 and a beta of 1.43. The firm's fifty day moving average is $197.85 and its two-hundred day moving average is $179.88.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.13) EPS. As a group, equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity

In other news, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president now directly owns 20,513 shares of the company's stock, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the sale, the executive vice president now directly owns 42,513 shares in the company, valued at $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock valued at $1,511,370 in the last ninety days. Insiders own 0.09% of the company's stock.

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.