Mirae Asset Global Investments Co. Ltd. Trims Stock Position in The Boeing Company (NYSE:BA)

Mirae Asset Global Investments Co. Ltd. lessened its position in The Boeing Company (NYSE:BA - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 270,016 shares of the aircraft producer's stock after selling 3,666 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Boeing were worth $46,787,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi lifted its position in Boeing by 473.6% during the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer's stock worth $268,862,000 after buying an additional 1,292,417 shares in the last quarter. KKM Financial LLC raised its position in Boeing by 50.8% in the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock valued at $2,720,000 after purchasing an additional 5,175 shares during the period. Wynn Capital LLC purchased a new stake in Boeing in the first quarter valued at $584,000. Grant Private Wealth Management Inc purchased a new stake in Boeing in the fourth quarter valued at $903,000. Finally, Winslow Asset Management Inc. raised its position in Boeing by 8.2% in the fourth quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer's stock valued at $7,215,000 after purchasing an additional 3,096 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BA. Wall Street Zen downgraded Boeing from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. Jefferies Financial Group lifted their target price on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Morgan Stanley set a $200.00 target price on Boeing and gave the company an "equal weight" rating in a research report on Thursday, June 12th. Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price on the stock in a research report on Friday. Finally, Royal Bank Of Canada restated a "cautious" rating on shares of Boeing in a research report 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 company. According to data from MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.77.

Boeing Price Performance

Shares of BA traded up $11.98 during midday trading on Friday, reaching $214.56. The stock had a trading volume of 14,787,018 shares, compared to its average volume of 9,472,166. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $218.80. The company has a market cap of $161.78 billion, a price-to-earnings ratio of -11.97 and a beta of 1.43. The company's fifty day simple moving average is $197.85 and its two-hundred day simple moving average is $179.98.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. The company's revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.13) earnings per share. On average, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the transaction, the senior vice president now directly owns 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,899 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the sale, the executive vice president now directly owns 42,513 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by corporate 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.