Prudential Financial Inc. Has $70.67 Million Stock Holdings in The Boeing Company (NYSE:BA)

Prudential Financial Inc. raised its stake in shares of The Boeing Company (NYSE:BA) by 11.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 399,269 shares of the aircraft producer’s stock after purchasing an additional 42,009 shares during the period. Prudential Financial Inc.’s holdings in Boeing were worth $70,671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BA. Minneapolis Portfolio Management Group LLC purchased a new position in Boeing in the fourth quarter valued at about $17,309,000. Towercrest Capital Management acquired a new stake in shares of Boeing during the 4th quarter valued at about $222,000. Syntax Research Inc. grew its stake in shares of Boeing by 6.9% in the 4th quarter. Syntax Research Inc. now owns 5,035 shares of the aircraft producer’s stock valued at $891,000 after buying an additional 327 shares in the last quarter. Corebridge Financial Inc. increased its holdings in Boeing by 20.4% in the fourth quarter. Corebridge Financial Inc. now owns 171,816 shares of the aircraft producer’s stock worth $30,411,000 after buying an additional 29,164 shares during the last quarter. Finally, United Services Automobile Association raised its position in Boeing by 26.3% during the fourth quarter. United Services Automobile Association now owns 16,926 shares of the aircraft producer’s stock valued at $2,996,000 after acquiring an additional 3,520 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated 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 $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.09% of the company’s stock.

Boeing Stock Up 1.6 %

BA stock opened at $180.90 on Tuesday. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $196.95. The company has a market cap of $135.69 billion, a PE ratio of -9.87 and a beta of 1.53. The business’s 50-day simple moving average is $173.19 and its 200 day simple moving average is $163.72.

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

Analyst Ratings Changes

Several research analysts have recently commented on the stock. 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 note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, January 29th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Wells Fargo & Company increased their price objective on Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a report on Monday, March 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average target price of $195.68.

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.