Kentucky Retirement Systems Insurance Trust Fund Has $2.64 Million Stock Holdings in The Boeing Company (NYSE:BA)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in The Boeing Company (NYSE:BA) by 6.9% during the 3rd quarter, Holdings Channel reports. The firm owned 17,331 shares of the aircraft producer’s stock after selling 1,281 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Boeing were worth $2,635,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Newport Trust Company LLC lifted its position in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after buying an additional 106,513 shares during the last quarter. Legal & General Group Plc increased its holdings in Boeing by 2.0% in the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after purchasing an additional 67,474 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Boeing by 289.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after buying an additional 1,251,165 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Trading Up 1.5 %

NYSE BA opened at $140.18 on Friday. The company has a market cap of $86.66 billion, a PE ratio of -10.87 and a beta of 1.57. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $267.54. The stock has a 50 day moving average of $153.20 and a 200-day moving average of $169.44.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted ($3.26) EPS. As a group, sell-side analysts predict that The Boeing Company will post -16.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BA. Stifel Nicolaus boosted their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Robert W. Baird cut their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company cut their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $190.37.

Boeing 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.