Pacer Advisors Inc. Increases Stock Position in The Boeing Company (NYSE:BA)

Pacer Advisors Inc. lifted its holdings in The Boeing Company (NYSE:BA) by 5.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 41,287 shares of the aircraft producer’s stock after purchasing an additional 2,066 shares during the period. Pacer Advisors Inc.’s holdings in Boeing were worth $7,515,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of BA. Capital Research Global Investors lifted its position in Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after acquiring an additional 4,425,964 shares during the last quarter. Wellington Management Group LLP lifted its position in Boeing by 563.9% during the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after acquiring an additional 2,921,043 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Boeing during the first quarter valued at approximately $272,312,000. Finally, Vanguard Group Inc. lifted its position in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

BA stock opened at $156.30 on Tuesday. The firm has a market cap of $95.95 billion, a PE ratio of -44.03 and a beta of 1.57. The firm’s fifty day moving average is $170.76 and its 200 day moving average is $177.08. The Boeing Company has a one year low of $151.65 and a one year high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.82) EPS. Research analysts predict that The Boeing Company will post -4.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BA shares. Stifel Nicolaus upped their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Sanford C. Bernstein cut their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Wells Fargo & Company restated an “underweight” rating and set a $119.00 price target (down previously from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Robert W. Baird cut their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Finally, UBS Group cut their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $212.89.

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.