AIA Group Ltd Invests $2.85 Million in The Boeing Company (NYSE:BA)

AIA Group Ltd purchased a new stake in The Boeing Company (NYSE:BA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,080 shares of the aircraft producer’s stock, valued at approximately $2,846,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC grew its stake in shares of Boeing by 10.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 39,055 shares of the aircraft producer’s stock worth $6,913,000 after purchasing an additional 3,643 shares during the period. Physician Wealth Advisors Inc. acquired a new position in Boeing during the fourth quarter worth about $205,000. CIBC Private Wealth Group LLC increased its holdings in Boeing by 9.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 51,983 shares of the aircraft producer’s stock valued at $8,929,000 after buying an additional 4,436 shares in the last quarter. IPG Investment Advisors LLC acquired a new stake in shares of Boeing during the 4th quarter valued at approximately $223,000. Finally, California Public Employees Retirement System boosted its stake in shares of Boeing by 10.2% during the 4th quarter. California Public Employees Retirement System now owns 875,678 shares of the aircraft producer’s stock worth $154,995,000 after acquiring an additional 80,847 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Transactions at Boeing

In related 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 value of $570,799.71. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BA shares. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Susquehanna raised their target price on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. UBS Group upped their price target on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.68.

Boeing Stock Performance

Boeing stock opened at $170.66 on Tuesday. The company has a market cap of $128.01 billion, a price-to-earnings ratio of -9.32 and a beta of 1.53. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $196.95. The firm has a 50 day moving average price of $173.97 and a 200 day moving average price of $164.28.

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 period last year, the business posted ($0.47) earnings per share. Sell-side analysts predict 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.