The Boeing Company (NYSE:BA) Stock Position Increased by Arizona State Retirement System

Arizona State Retirement System boosted its position in The Boeing Company (NYSE:BA) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 168,037 shares of the aircraft producer’s stock after purchasing an additional 3,108 shares during the quarter. Arizona State Retirement System’s holdings in Boeing were worth $30,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Boeing during the 4th quarter worth about $26,000. Vima LLC acquired a new position in shares of Boeing in the 4th quarter worth approximately $34,000. Accent Capital Management LLC acquired a new position in shares of Boeing in the 4th quarter worth approximately $39,000. Frank Rimerman Advisors LLC acquired a new position in shares of Boeing in the 4th quarter worth approximately $48,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Boeing in the 2nd quarter worth approximately $34,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Up 0.2 %

NYSE BA opened at $162.47 on Friday. The stock has a market capitalization of $99.74 billion, a PE ratio of -45.68 and a beta of 1.56. The company has a 50 day moving average price of $177.02 and a two-hundred day moving average price of $181.13. The Boeing Company has a 12-month low of $158.30 and a 12-month high of $267.54.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.82) EPS. As a group, equities analysts anticipate that The Boeing Company will post -4.26 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on BA. Robert W. Baird lowered their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. UBS Group lowered their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Baird R W raised shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Bank of America lifted their target price on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Finally, Sanford C. Bernstein dropped their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.29.

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.