iA Global Asset Management Inc. Purchases 6,242 Shares of The Boeing Company (NYSE:BA)

iA Global Asset Management Inc. grew its position in shares of The Boeing Company (NYSE:BA) by 60.7% in the 1st quarter, HoldingsChannel reports. The firm owned 16,527 shares of the aircraft producer’s stock after acquiring an additional 6,242 shares during the quarter. iA Global Asset Management Inc.’s holdings in Boeing were worth $3,190,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Boeing in the fourth quarter worth about $26,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Boeing in the fourth quarter worth about $28,000. Evolution Advisers Inc. purchased a new position in shares of Boeing in the fourth quarter worth about $28,000. Vima LLC purchased a new position in shares of Boeing in the fourth quarter worth about $34,000. Finally, Accent Capital Management LLC purchased a new position in shares of Boeing in the fourth quarter worth about $39,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the topic of several analyst reports. UBS Group decreased their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Argus downgraded Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. reduced their price target on Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Royal Bank of Canada reduced their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Finally, Bank of America boosted their price target on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus price target of $217.41.

Boeing Stock Performance

Shares of BA stock traded down $9.71 during mid-day trading on Friday, hitting $168.60. The company’s stock had a trading volume of 7,166,948 shares, compared to its average volume of 8,186,917. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54. The business has a 50-day moving average price of $181.97 and a 200 day moving average price of $187.70. The stock has a market cap of $103.50 billion, a price-to-earnings ratio of -47.54 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the prior year, the company earned ($0.82) EPS. Boeing’s revenue was down 14.6% on a year-over-year basis. Equities research analysts predict that The Boeing Company will post -2.38 EPS for the current fiscal 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.