Factory Mutual Insurance Co. Decreases Stock Position in The Boeing Company (NYSE:BA)

Factory Mutual Insurance Co. cut its holdings in The Boeing Company (NYSE:BAFree Report) by 28.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,100 shares of the aircraft producer’s stock after selling 28,800 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Boeing were worth $13,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Boeing in the fourth quarter valued at about $26,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Boeing in the fourth quarter valued at about $28,000. Evolution Advisers Inc. acquired a new position in shares of Boeing in the fourth quarter valued at about $28,000. Vima LLC acquired a new position in shares of Boeing in the fourth quarter valued at about $34,000. Finally, Accent Capital Management LLC acquired a new position in shares of Boeing in the fourth quarter valued at about $39,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Robert W. Baird cut their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Morgan Stanley dropped their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. JPMorgan Chase & Co. reduced their price target on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Citigroup reduced their price target on Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 price target on shares of Boeing in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $220.89.

Read Our Latest Stock Report on BA

Boeing Stock Performance

Shares of NYSE:BA traded down $4.61 during trading on Tuesday, reaching $174.49. The stock had a trading volume of 4,865,788 shares, compared to its average volume of 8,575,086. The business has a fifty day moving average price of $177.75 and a 200-day moving average price of $199.98. The stock has a market cap of $107.12 billion, a PE ratio of -49.08 and a beta of 1.55. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54.

Boeing (NYSE:BAGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.30. The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. Sell-side analysts expect that The Boeing Company will post -1.67 earnings per share for the current year.

Boeing Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Boeing (NYSE:BA)

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