The Boeing Company (NYSE:BA) Shares Purchased by Summit Global Investments

Summit Global Investments increased its holdings in The Boeing Company (NYSE:BA) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,550 shares of the aircraft producer’s stock after purchasing an additional 300 shares during the period. Summit Global Investments’ holdings in Boeing were worth $828,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BA. Vanguard Group Inc. grew its stake in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Capital Research Global Investors lifted its stake in Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares during the period. Northern Trust Corp grew its position in shares of Boeing by 1.1% during the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after acquiring an additional 52,081 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Boeing by 14.1% in the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after acquiring an additional 518,952 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 4.2 %

Boeing stock traded down $7.55 during trading hours on Tuesday, reaching $172.09. 9,542,094 shares of the company were exchanged, compared to its average volume of 8,045,871. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The firm has a market cap of $105.64 billion, a price-to-earnings ratio of -48.48 and a beta of 1.56. The stock has a 50-day moving average of $178.86 and a 200 day moving average of $183.87.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com cut shares of Boeing from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Wells Fargo & Company cut their target price on Boeing from $190.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Susquehanna reissued a “positive” rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Bank of America raised 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. Finally, Citigroup decreased their target price on shares of Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $215.18.

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.