Intech Investment Management LLC Has $25 Million Stock Position in The Boeing Company (NYSE:BA)

Intech Investment Management LLC reduced its position in The Boeing Company (NYSE:BA) by 29.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 137,355 shares of the aircraft producer’s stock after selling 56,834 shares during the period. Intech Investment Management LLC’s holdings in Boeing were worth $25,000,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. 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 worth $4,400,109,000 after acquiring an additional 4,425,964 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 worth $2,560,466,000 after acquiring an additional 1,884,850 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after acquiring an additional 106,513 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Boeing by 1.1% during the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after acquiring an additional 52,081 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on BA. Sanford C. Bernstein lowered their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Robert W. Baird lowered their target price on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Stifel Nicolaus raised their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company reissued an “underweight” rating and issued a $119.00 price objective (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Finally, Bank of America boosted their target price on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Stock Performance

Shares of NYSE:BA opened at $154.55 on Friday. The firm has a market cap of $94.88 billion, a PE ratio of -43.54 and a beta of 1.57. The Boeing Company has a 52 week low of $154.02 and a 52 week high of $267.54. The firm’s fifty day moving average is $171.80 and its 200-day moving average is $178.07.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (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 analyst estimates of $17.35 billion. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.82) EPS. Sell-side analysts forecast that The Boeing Company will post -4.26 EPS for the current year.

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.