Retirement Systems of Alabama boosted its position in shares of The Boeing Company (NYSE:BA – Free Report) by 26.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 161,857 shares of the aircraft producer’s stock after acquiring an additional 33,932 shares during the period. Retirement Systems of Alabama’s holdings in Boeing were worth $28,649,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sargent Investment Group LLC bought a new position in shares of Boeing during the fourth quarter worth about $214,000. Old North State Wealth Management LLC boosted its position in Boeing by 2.0% during the 4th quarter. Old North State Wealth Management LLC now owns 20,157 shares of the aircraft producer’s stock worth $3,568,000 after acquiring an additional 400 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Boeing by 176.2% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 892 shares of the aircraft producer’s stock valued at $158,000 after purchasing an additional 569 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new stake in shares of Boeing in the fourth quarter valued at approximately $202,000. Finally, CenterStar Asset Management LLC lifted its position in shares of Boeing by 1,025.5% in the fourth quarter. CenterStar Asset Management LLC now owns 1,305 shares of the aircraft producer’s stock worth $231,000 after purchasing an additional 1,446 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.
Boeing Trading Up 3.2 %
Shares of NYSE BA opened at $181.80 on Thursday. The business’s 50 day moving average is $170.47 and its 200-day moving average is $164.00. The firm has a market cap of $112.39 billion, a P/E ratio of -9.92 and a beta of 1.52. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $213.77.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. UBS Group lifted their target price on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley cut their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $195.00.
Check Out Our Latest Analysis on BA
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.
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