State of Alaska Department of Revenue Boosts Stake in The Boeing Company (NYSE:BA)

State of Alaska Department of Revenue increased its position in The Boeing Company (NYSE:BA) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,219 shares of the aircraft producer’s stock after buying an additional 805 shares during the period. State of Alaska Department of Revenue’s holdings in Boeing were worth $12,007,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Boeing in the fourth quarter worth about $26,000. Evolution Advisers Inc. bought a new position in Boeing in the fourth quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. bought a new position in Boeing in the fourth quarter worth approximately $28,000. Vima LLC bought a new position in Boeing in the fourth quarter worth approximately $34,000. Finally, Accent Capital Management LLC bought a new position in Boeing in the fourth quarter worth approximately $39,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BA has been the topic of several recent research reports. Morgan Stanley dropped their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Melius Research reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. TD Cowen dropped their target price on Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, March 25th. Finally, JPMorgan Chase & Co. dropped their target price on Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average target price of $220.89.

Boeing Trading Down 0.6 %

NYSE BA opened at $184.31 on Thursday. The stock has a 50-day simple moving average of $179.14 and a two-hundred day simple moving average of $197.01. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $17.69 billion. On average, research analysts anticipate that The Boeing Company will post -1.67 earnings per share for the current year.

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.