Summit Global Investments Grows Stock Holdings in The Boeing Company (NYSE:BA)

Summit Global Investments grew its stake in The Boeing Company (NYSE:BA) by 47.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,385 shares of the aircraft producer’s stock after acquiring an additional 772 shares during the period. Summit Global Investments’ holdings in Boeing were worth $422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp increased its holdings in Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the period. Geode Capital Management LLC grew its position in shares of Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after buying an additional 320,415 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Boeing by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after buying an additional 164,042 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Boeing by 30.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after acquiring an additional 981,796 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Boeing by 17.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,921,417 shares of the aircraft producer’s stock worth $694,091,000 after acquiring an additional 581,987 shares during the period. Institutional investors own 64.82% of the company’s stock.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value 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. This represents a 14.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Boeing Trading Up 1.6 %

NYSE BA opened at $180.90 on Tuesday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $196.95. The company has a fifty day simple moving average of $173.19 and a two-hundred day simple moving average of $163.72. The stock has a market cap of $135.69 billion, a P/E ratio of -9.87 and a beta of 1.53.

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

Analyst Upgrades and Downgrades

BA has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Citigroup upped their target price on Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Wells Fargo & Company boosted their price target on Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. upped their price objective on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.68.

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.