State of Michigan Retirement System Purchases 43,500 Shares of The Boeing Company (NYSE:BA)

State of Michigan Retirement System grew its position in shares of The Boeing Company (NYSE:BA) by 27.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,896 shares of the aircraft producer’s stock after buying an additional 43,500 shares during the period. State of Michigan Retirement System’s holdings in Boeing were worth $35,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc increased its position in Boeing by 54.2% during the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after acquiring an additional 710 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of Boeing by 8.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after purchasing an additional 38,300 shares in the last quarter. Carnegie Investment Counsel increased its holdings in shares of Boeing by 175.6% during the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 2,943 shares during the period. Principal Financial Group Inc. raised its position in shares of Boeing by 6.1% in the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after buying an additional 38,332 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s 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 transaction, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade 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 this link. Company insiders own 0.16% of the company’s stock.

Boeing Price Performance

NYSE:BA opened at $170.24 on Tuesday. The Boeing Company has a one year low of $137.03 and a one year high of $203.80. The firm’s 50 day simple moving average is $176.72 and its 200 day simple moving average is $164.64. The company has a market cap of $127.69 billion, a PE ratio of -9.29 and a beta of 1.52.

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

Analysts Set New Price Targets

A number of research analysts recently commented on BA shares. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Susquehanna boosted their target price on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. UBS Group increased their price target on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, January 29th. Finally, Citigroup raised their target price on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

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.