Meiji Yasuda Asset Management Co Ltd. Boosts Position in The Boeing Company (NYSE:BA)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in The Boeing Company (NYSE:BA) by 18.5% during the 4th quarter, Holdings Channel reports. The fund owned 12,090 shares of the aircraft producer’s stock after purchasing an additional 1,890 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Boeing were worth $2,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Penserra Capital Management LLC boosted its position in Boeing by 17.5% in the 3rd quarter. Penserra Capital Management LLC now owns 4,856 shares of the aircraft producer’s stock worth $738,000 after purchasing an additional 724 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Boeing during the third quarter valued at $58,000. Qsemble Capital Management LP increased its holdings in Boeing by 33.5% in the third quarter. Qsemble Capital Management LP now owns 7,645 shares of the aircraft producer’s stock valued at $1,162,000 after buying an additional 1,917 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Boeing in the third quarter worth about $1,295,000. Finally, Cadence Bank boosted its stake in shares of Boeing by 5.6% during the 3rd quarter. Cadence Bank now owns 3,043 shares of the aircraft producer’s stock worth $463,000 after acquiring an additional 162 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of several recent analyst reports. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Monday. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Citigroup upped their price objective on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.68.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 3,159 shares of the business’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 sale, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

Boeing Price Performance

Shares of BA stock opened at $178.42 on Thursday. The firm’s 50-day moving average is $173.74 and its two-hundred day moving average is $164.00. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $196.95. The company has a market capitalization of $133.83 billion, a PE ratio of -9.74 and a beta of 1.53.

Boeing (NYSE:BA) last released its quarterly earnings data 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 quarter in the previous year, the business posted ($0.47) earnings per share. Sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

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.