RiverFront Investment Group LLC Boosts Stock Position in The Boeing Company (NYSE:BA)

RiverFront Investment Group LLC lifted its position in shares of The Boeing Company (NYSE:BA) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,709 shares of the aircraft producer’s stock after purchasing an additional 84 shares during the quarter. RiverFront Investment Group LLC’s holdings in Boeing were worth $479,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Boeing by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after buying an additional 12,641,715 shares during the period. State Street Corp lifted its stake in shares of Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Geode Capital Management LLC grew its position in 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 acquiring an additional 320,415 shares during the last quarter. Fisher Asset Management LLC increased its stake in Boeing by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock worth $890,469,000 after purchasing an additional 164,042 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 purchasing an additional 981,796 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BA shares. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. StockNews.com upgraded shares of Boeing to a “sell” rating in a research report on Wednesday, March 12th. UBS Group increased their target price on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Citigroup boosted their price target on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.68.

Boeing Stock Performance

BA stock opened at $172.98 on Friday. The firm has a 50 day moving average price of $173.98 and a 200-day moving average price of $164.20. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $196.95. The firm has a market capitalization of $129.74 billion, a price-to-earnings ratio of -9.44 and a beta of 1.53.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the company earned ($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 fiscal year.

Insider Buying and Selling

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

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.