Resona Asset Management Co. Ltd. Acquires New Position in The Boeing Company (NYSE:BA)

Resona Asset Management Co. Ltd. acquired a new stake in The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 208,723 shares of the aircraft producer’s stock, valued at approximately $37,055,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in 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. Geode Capital Management LLC boosted its holdings in Boeing by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after buying an additional 3,452,075 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Boeing by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock worth $890,469,000 after buying an additional 164,042 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Boeing by 30.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock worth $739,585,000 after buying an additional 981,796 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Boeing by 17.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,921,417 shares of the aircraft producer’s stock valued at $694,091,000 after acquiring an additional 581,987 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Buying and Selling

In related news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the topic of a number of research reports. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price target on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Melius Research set a $204.00 target price on shares of Boeing in a report on Monday, March 24th. Finally, UBS Group upped their price target on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $196.10.

Boeing Price Performance

BA opened at $136.61 on Friday. The stock has a market capitalization of $102.47 billion, a price-to-earnings ratio of -7.46 and a beta of 1.53. The Boeing Company has a 12 month low of $132.79 and a 12 month high of $196.95. The business has a 50-day moving average of $172.36 and a two-hundred day moving average of $164.16.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the firm earned ($0.47) EPS. Equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current 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.