QRG Capital Management Inc. Acquires 4,222 Shares of The Boeing Company (NYSE:BA)

QRG Capital Management Inc. increased its holdings in shares of The Boeing Company (NYSE:BA) by 7.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,412 shares of the aircraft producer’s stock after purchasing an additional 4,222 shares during the quarter. QRG Capital Management Inc.’s holdings in Boeing were worth $10,162,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares in the last quarter. Franklin Resources Inc. increased its holdings in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares in the last quarter. State Street Corp raised 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 purchasing an additional 636,594 shares during the period. Jennison Associates LLC lifted its holdings in shares of Boeing by 9.9% in 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 boosted its position in shares of Boeing by 17.4% during the fourth quarter. Bank of New York Mellon Corp now owns 3,921,417 shares of the aircraft producer’s stock worth $694,091,000 after buying an additional 581,987 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of BA opened at $173.65 on Friday. The company’s 50-day moving average is $176.92 and its 200-day moving average is $164.67. The firm has a market capitalization of $130.25 billion, a PE ratio of -9.48 and a beta of 1.52. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $208.10.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the business posted ($0.47) EPS. Analysts predict 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 the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BA. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research report on Wednesday, January 29th. Citigroup lifted their price objective on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 10th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $190.00 to $210.00 in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their price target on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company increased their price objective on shares of Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $195.16.

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.