Meiji Yasuda Asset Management Co Ltd. Increases Stock Holdings in The Boeing Company (NYSE:BA)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of The Boeing Company (NYSE:BA) by 18.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,090 shares of the aircraft producer’s stock after buying an additional 1,890 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Boeing were worth $2,140,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BA. Vanguard Group Inc. raised its stake in shares of Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares during the period. Raymond James Financial Inc. bought a new position in Boeing during the 4th quarter valued at about $230,944,000. Amundi raised its position in Boeing by 473.6% in the 4th quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock worth $268,862,000 after purchasing an additional 1,292,417 shares during the period. Burkehill Global Management LP bought a new stake in Boeing in the fourth quarter worth about $212,400,000. Finally, Franklin Resources Inc. boosted its position in shares of Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after buying an additional 1,055,472 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Trading Down 2.3 %

Shares of BA stock opened at $178.42 on Thursday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $196.95. The business’s fifty day simple moving average is $173.74 and its 200-day simple moving average is $164.00. The company has a market cap of $133.83 billion, a PE ratio of -9.74 and a beta of 1.53.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the prior year, the business earned ($0.47) earnings per share. On average, equities analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BA. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Wells Fargo & Company lifted their target price on Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research report on Monday, March 17th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $190.00 to $210.00 in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $195.68.

Insider Activity

In other news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.