Sumitomo Mitsui Trust Group Inc. Has $422.19 Million Stake in The Boeing Company $BA

Key Points

• Sumitomo Mitsui Trust Group Inc. has increased its stake in The Boeing Company by 2.3%, now owning 2,014,928 shares valued at approximately $422.19 million.
• Several hedge funds have also adjusted their holdings in Boeing, with Vanguard Group Inc. holding 65.7 million shares valued at around $11.2 billion.
• Boeing's stock has a current price of $219.26 with a market cap of $165.8 billion, and analysts maintain a consensus price target of $242.32 with a general rating of "Moderate Buy."

Sumitomo Mitsui Trust Group Inc. increased its position in shares of The Boeing Company (NYSE:BA - Free Report) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,014,928 shares of the aircraft producer's stock after buying an additional 46,180 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.27% of Boeing worth $422,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Boeing by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock valued at $715,979,000 after purchasing an additional 19,615 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Boeing by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer's stock worth $500,247,000 after buying an additional 91,707 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Boeing by 2.5% during the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer's stock worth $359,895,000 after buying an additional 51,700 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of Boeing during the second quarter worth $378,459,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Insider Activity at Boeing

In related news, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired 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 directly owned 2,200 shares of the company's stock, valued at approximately $497,420. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares in the company, 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 Stock Up 0.7%

Boeing stock opened at $219.26 on Friday. The stock has a market cap of $165.80 billion, a PE ratio of -13.27 and a beta of 1.47. The business's 50-day moving average price is $221.97 and its two-hundred day moving average price is $209.45. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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 the consensus estimate of $20.13 billion. The company's revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.90) EPS. As a group, analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BA shares. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 target price on shares of Boeing in a report on Monday, September 29th. Sanford C. Bernstein lifted their target price on Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a report on Thursday, October 2nd. Jefferies Financial Group set a $255.00 target price on Boeing in a report on Tuesday, September 30th. Citigroup reissued a "buy" rating on shares of Boeing in a report on Monday, July 28th. Finally, Vertical Research raised Boeing from a "hold" rating to a "buy" rating and boosted their price target for the company from $242.00 to $270.00 in a research note on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $242.32.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.