Vanguard Group Inc. Boosts Stake in The Boeing Company (NYSE:BA)

Key Points

• Vanguard Group Inc. has increased its stake in The Boeing Company by 1.9%, now owning approximately 65.7 million shares valued at over $11 billion, indicating strong institutional confidence in the company.
• Boeing reported a quarterly earnings loss of ($1.24) per share, missing estimates, but its revenue climbed by 34.9% year-over-year to $22.75 billion.
• Several analysts upgraded Boeing's stock ratings and price targets, with Susquehanna setting a new target at $270, reflecting a generally optimistic outlook among analysts despite recent earnings challenges.

Vanguard Group Inc. lifted its stake in The Boeing Company (NYSE:BA - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,655,044 shares of the aircraft producer's stock after buying an additional 1,212,327 shares during the period. Vanguard Group Inc. owned about 8.71% of Boeing worth $11,197,468,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BA. Revolve Wealth Partners LLC acquired a new stake in shares of Boeing in the fourth quarter valued at $201,000. Bank Pictet & Cie Europe AG bought a new position in Boeing in the 4th quarter worth approximately $7,837,000. Russell Investments Group Ltd. boosted its position in Boeing by 35.9% in the 4th quarter. Russell Investments Group Ltd. now owns 121,785 shares of the aircraft producer's stock valued at $21,556,000 after buying an additional 32,165 shares during the last quarter. Waterloo Capital L.P. acquired a new position in shares of Boeing during the fourth quarter valued at $455,000. Finally, Trek Financial LLC boosted its holdings in Boeing by 2.7% in the fourth quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer's stock valued at $408,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 64.82% of the company's stock.

Boeing Stock Performance

Shares of Boeing stock traded up $0.17 on Wednesday, hitting $225.03. The company had a trading volume of 3,890,587 shares, compared to its average volume of 8,049,781. The stock has a market capitalization of $170.16 billion, a price-to-earnings ratio of -13.63 and a beta of 1.48. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a 50 day moving average of $216.09 and a 200-day moving average of $189.57.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The company 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% compared to the same quarter last year. During the same period last year, the firm earned ($2.90) earnings per share. Equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BA. UBS Group set a $280.00 target price on shares of Boeing and gave the stock a "buy" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Royal Bank Of Canada restated an "outperform" rating and issued a $250.00 price target on shares of Boeing in a report on Wednesday, July 30th. Cowen reaffirmed a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. Finally, KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and a consensus price target of $228.90.

Insiders Place Their Bets

In other news, 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 owned 13,258 shares of the company's stock, valued at $2,734,860.24. This represents a 4.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the transaction, the executive vice president owned 20,513 shares of the company's stock, valued at $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

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.