ING Groep NV Grows Stake in The Boeing Company (NYSE:BA)

ING Groep NV lifted its stake in shares of The Boeing Company (NYSE:BA) by 179.1% in the fourth quarter, Holdings Channel reports. The firm owned 214,367 shares of the aircraft producer’s stock after buying an additional 137,554 shares during the period. ING Groep NV’s holdings in Boeing were worth $37,943,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp boosted its position in Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Geode Capital Management LLC boosted its position in Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after acquiring an additional 320,415 shares during the last quarter. Jennison Associates LLC boosted its position in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares during the last quarter. Fisher Asset Management LLC boosted its position in Boeing by 6.0% during the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after acquiring an additional 277,350 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Boeing by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock worth $486,018,000 after acquiring an additional 48,637 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 0.7 %

Shares of BA opened at $186.20 on Thursday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $208.10. The firm’s 50 day moving average price is $176.32 and its 200 day moving average price is $164.20. The company has a market cap of $139.66 billion, a P/E ratio of -10.16 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the prior year, the firm earned ($0.47) EPS. Research analysts forecast that The Boeing Company will post -2.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BA. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, January 29th. UBS Group boosted their price target on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

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.