Bridges Investment Management Inc. Raises Stock Holdings in The Boeing Company (NYSE:BA)

Bridges Investment Management Inc. increased its holdings in shares of The Boeing Company (NYSE:BA) by 30.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,391 shares of the aircraft producer’s stock after acquiring an additional 4,554 shares during the quarter. Bridges Investment Management Inc.’s holdings in Boeing were worth $3,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BA. Vanguard Group Inc. raised its stake in shares of Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Capital Research Global Investors raised its position in Boeing by 35.5% in 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 period. Price T Rowe Associates Inc. MD boosted its stake in Boeing by 23.7% in 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. Massachusetts Financial Services Co. MA boosted its stake in Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after acquiring an additional 106,513 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Boeing by 1.1% during the 4th quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock valued at $1,304,150,000 after acquiring an additional 52,081 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Baird R W upgraded Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Susquehanna reaffirmed a “positive” rating and set a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Bank of America lifted their price objective on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Sanford C. Bernstein dropped their price objective 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. Finally, Stifel Nicolaus increased their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average target price of $211.29.

Boeing Stock Performance

Boeing stock opened at $154.55 on Friday. The Boeing Company has a fifty-two week low of $154.02 and a fifty-two week high of $267.54. The stock has a market cap of $94.88 billion, a P/E ratio of -43.54 and a beta of 1.57. The firm’s fifty day moving average price is $171.80 and its 200-day moving average price is $178.07.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the prior year, the company earned ($0.82) EPS. The firm’s revenue was down 14.6% on a year-over-year basis. Sell-side analysts predict that The Boeing Company will post -4.26 earnings per share 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.