The Boeing Company (NYSE:BA) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of The Boeing Company (NYSE:BA) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,006,469 shares of the aircraft producer’s stock after selling 30,575 shares during the quarter. California Public Employees Retirement System’s holdings in Boeing were worth $262,346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Scott & Selber Inc. grew its position in shares of Boeing by 79.1% during the fourth quarter. Scott & Selber Inc. now owns 13,129 shares of the aircraft producer’s stock worth $3,422,000 after buying an additional 5,797 shares in the last quarter. RWA Wealth Partners LLC lifted its stake in Boeing by 84.5% during the fourth quarter. RWA Wealth Partners LLC now owns 24,761 shares of the aircraft producer’s stock worth $6,454,000 after purchasing an additional 11,339 shares during the last quarter. Mengis Capital Management Inc. lifted its stake in Boeing by 37.1% during the fourth quarter. Mengis Capital Management Inc. now owns 10,134 shares of the aircraft producer’s stock worth $2,642,000 after purchasing an additional 2,745 shares during the last quarter. Diversified LLC purchased a new stake in Boeing during the fourth quarter worth approximately $313,000. Finally, Jennison Associates LLC purchased a new stake in Boeing during the fourth quarter worth approximately $960,397,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Trading Down 0.2 %

BA stock traded down $0.41 on Tuesday, reaching $170.07. 1,363,817 shares of the company’s stock were exchanged, compared to its average volume of 9,530,195. The stock has a fifty day moving average of $189.51 and a 200-day moving average of $207.32. The Boeing Company has a twelve month low of $167.53 and a twelve month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period in the prior year, the company earned ($1.75) EPS. The company’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that The Boeing Company will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BA shares. Benchmark restated a “buy” rating and set a $250.00 target price on shares of Boeing in a research note on Tuesday, March 26th. Barclays decreased their target price on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research note on Monday. Melius Research restated a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Sanford C. Bernstein reduced their price objective on Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Finally, Bank of America reduced their price objective on Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.71.

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.