Apriem Advisors Increases Position in The Boeing Company (NYSE:BA)

Apriem Advisors boosted its holdings in shares of The Boeing Company (NYSE:BA) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,158 shares of the aircraft producer’s stock after purchasing an additional 1,828 shares during the period. Apriem Advisors’ holdings in Boeing were worth $4,453,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Van ECK Associates Corp lifted its position in shares of Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares in the last quarter. Franklin Resources Inc. raised its position in Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares during the period. State Street Corp raised its position in Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares during the period. Jennison Associates LLC lifted its holdings in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of 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 valued at $694,091,000 after purchasing an additional 581,987 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. The trade was 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 through this link. 0.16% of the stock is currently owned by insiders.

Boeing Stock Performance

BA opened at $173.02 on Thursday. The business’s 50 day moving average price is $176.99 and its 200 day moving average price is $164.61. The stock has a market capitalization of $129.77 billion, a PE ratio of -9.44 and a beta of 1.52. The Boeing Company has a one year low of $137.03 and a one year high of $208.10.

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

Wall Street Analyst Weigh In

BA has been the topic of a number of research reports. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, January 29th. UBS Group increased their price objective on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Susquehanna lifted their target price on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $195.16.

About Boeing

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.