The Boeing Company (NYSE:BA) Shares Purchased by abrdn plc

abrdn plc boosted its holdings in The Boeing Company (NYSE:BA) by 72.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 230,402 shares of the aircraft producer’s stock after buying an additional 96,620 shares during the period. abrdn plc’s holdings in Boeing were worth $60,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Blueprint LLC increased its stake in Boeing by 8.7% during the fourth quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock worth $859,000 after acquiring an additional 264 shares during the last quarter. Meridian Wealth Management LLC grew its stake in Boeing by 86.8% during the third quarter. Meridian Wealth Management LLC now owns 24,776 shares of the aircraft producer’s stock worth $4,749,000 after buying an additional 11,510 shares during the period. Morse Asset Management Inc increased its position in shares of Boeing by 65.0% in the third quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock worth $1,533,000 after acquiring an additional 3,152 shares in the last quarter. Peregrine Asset Advisers Inc. lifted its holdings in shares of Boeing by 1,335.3% during the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock valued at $6,985,000 after acquiring an additional 33,904 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in Boeing by 2.0% during the 3rd quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock worth $198,781,000 after purchasing an additional 19,847 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.2 %

Shares of Boeing stock opened at $169.82 on Monday. The stock has a market capitalization of $103.61 billion, a price-to-earnings ratio of -46.15, a PEG ratio of 134.48 and a beta of 1.52. The business’s 50 day simple moving average is $190.29 and its 200-day simple moving average is $207.43. 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 results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted ($1.75) EPS. Sell-side analysts predict that The Boeing Company will post 0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Bank of America reduced their price objective on Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Wells Fargo & Company reduced their target price on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 1st. UBS Group lowered their price target on shares of Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Susquehanna cut their price objective on shares of Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a report on Thursday, March 21st. Finally, Sanford C. Bernstein lowered their target price on Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. One investment 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’s stock. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $229.35.

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.