Hodges Capital Management Inc. Raises Stock Holdings in The Boeing Company (NYSE:BA)

Hodges Capital Management Inc. lifted its stake in The Boeing Company (NYSE:BA) by 64.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,197 shares of the aircraft producer’s stock after buying an additional 17,748 shares during the quarter. Hodges Capital Management Inc.’s holdings in Boeing were worth $8,722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Capital Research Global Investors boosted its position in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after purchasing an additional 4,425,964 shares during the period. Jennison Associates LLC bought a new position in Boeing in the 4th quarter worth $960,397,000. Wellington Management Group LLP increased its stake in Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after buying an additional 2,921,043 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares during the period. Finally, Boston Partners boosted its stake in shares of Boeing by 861.6% in the fourth quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock worth $467,338,000 after acquiring an additional 1,617,151 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BA. Robert W. Baird decreased their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. JPMorgan Chase & Co. lowered their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Citigroup dropped their target price on shares of Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Susquehanna reiterated a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, May 15th. Finally, Benchmark reissued a “buy” rating and set a $250.00 price objective on shares of Boeing in a report on Tuesday, March 26th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.89.

Boeing Price Performance

Shares of Boeing stock traded down $0.50 during trading on Friday, hitting $182.01. The stock had a trading volume of 5,899,850 shares, compared to its average volume of 5,801,654. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The firm’s fifty day simple moving average is $178.50 and its 200-day simple moving average is $198.77.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.43) by $0.30. The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $17.69 billion. As a group, equities research analysts forecast that The Boeing Company will post -1.67 EPS for the current year.

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.