Sei Investments Co. Acquires 11,092 Shares of The Boeing Company (NYSE:BA)

Sei Investments Co. lifted its holdings in shares of The Boeing Company (NYSE:BA) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 245,647 shares of the aircraft producer’s stock after purchasing an additional 11,092 shares during the quarter. Sei Investments Co.’s holdings in Boeing were worth $44,710,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brio Consultants LLC bought a new position in shares of Boeing in the fourth quarter worth $207,000. Gryphon Financial Partners LLC bought a new stake in shares of Boeing during the 4th quarter worth approximately $258,000. Franklin Resources Inc. boosted its position in shares of Boeing by 3.6% during the 4th quarter. Franklin Resources Inc. now owns 38,330 shares of the aircraft producer’s stock worth $9,991,000 after acquiring an additional 1,325 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in Boeing by 3.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 11,726 shares of the aircraft producer’s stock valued at $3,056,000 after acquiring an additional 423 shares during the last quarter. Finally, ProVise Management Group LLC raised its position in Boeing by 7.9% during the fourth quarter. ProVise Management Group LLC now owns 1,564 shares of the aircraft producer’s stock valued at $408,000 after purchasing an additional 114 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Down 0.8 %

Shares of BA stock opened at $153.29 on Monday. The stock has a 50-day moving average of $171.21 and a 200-day moving average of $177.41. The stock has a market cap of $94.10 billion, a price-to-earnings ratio of -43.18 and a beta of 1.57. The Boeing Company has a 1-year low of $152.60 and a 1-year high of $267.54.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $119.00 target price (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Bank of America raised their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. Susquehanna reissued a “positive” rating and set a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Stifel Nicolaus raised 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $225.00 price target on shares of Boeing in a report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.29.

Boeing Company 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.