Primecap Management Co. CA Takes Position in The Boeing Company (NYSE:BA)

Primecap Management Co. CA bought a new position in shares of The Boeing Company (NYSE:BA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 299,300 shares of the aircraft producer’s stock, valued at approximately $78,016,000.

Several other institutional investors also recently bought and sold shares of BA. Trust Co. of Vermont raised its holdings in Boeing by 1.0% in the 3rd quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock valued at $841,000 after acquiring an additional 45 shares during the last quarter. Benchmark Financial Wealth Advisors LLC increased its holdings in shares of Boeing by 2.7% in the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock valued at $465,000 after purchasing an additional 47 shares during the last quarter. WealthPlan Investment Management LLC lifted its position in Boeing by 1.0% during the fourth quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock worth $1,229,000 after buying an additional 49 shares in the last quarter. RB Capital Management LLC boosted its stake in Boeing by 2.7% during the third quarter. RB Capital Management LLC now owns 1,893 shares of the aircraft producer’s stock worth $363,000 after buying an additional 50 shares during the last quarter. Finally, M&R Capital Management Inc. grew its holdings in Boeing by 35.0% in the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 50 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BA has been the topic of several analyst reports. Melius reissued a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Susquehanna reiterated a “positive” rating and issued a $230.00 target price on shares of Boeing in a report on Wednesday, May 15th. UBS Group cut 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. Morgan Stanley decreased their price objective on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Finally, StockNews.com cut Boeing from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $221.24.

Boeing Price Performance

Shares of BA stock traded up $2.31 during trading on Friday, reaching $174.52. The company’s stock had a trading volume of 9,489,380 shares, compared to its average volume of 6,679,203. The company has a market capitalization of $107.13 billion, a price-to-earnings ratio of -49.16 and a beta of 1.54. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54. The stock’s 50-day moving average price is $179.01 and its 200 day moving average price is $205.53.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.43) by $0.30. The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. On average, sell-side analysts anticipate that The Boeing Company will post -0.6 EPS for the current fiscal 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.