State Treasurer State of Michigan Sells 4,500 Shares of Boeing (BA)

State Treasurer State of Michigan decreased its stake in Boeing (NYSE:BA) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 216,750 shares of the aircraft producer’s stock after selling 4,500 shares during the quarter. State Treasurer State of Michigan’s holdings in Boeing were worth $63,922,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Lourd Capital LLC boosted its holdings in Boeing by 56.4% during the 4th quarter. Lourd Capital LLC now owns 2,650 shares of the aircraft producer’s stock valued at $782,000 after acquiring an additional 956 shares during the period. Strs Ohio boosted its holdings in Boeing by 5.4% during the 4th quarter. Strs Ohio now owns 545,519 shares of the aircraft producer’s stock valued at $160,879,000 after acquiring an additional 27,956 shares during the period. Sciencast Management LP purchased a new position in Boeing during the 2nd quarter valued at $801,000. Harbour Capital Advisors LLC boosted its holdings in Boeing by 3.8% during the 4th quarter. Harbour Capital Advisors LLC now owns 6,117 shares of the aircraft producer’s stock valued at $1,804,000 after acquiring an additional 226 shares during the period. Finally, Korea Investment CORP boosted its holdings in Boeing by 21.9% during the 3rd quarter. Korea Investment CORP now owns 429,080 shares of the aircraft producer’s stock valued at $109,076,000 after acquiring an additional 77,200 shares during the period. Hedge funds and other institutional investors own 70.76% of the company’s stock.

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In related news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.24% of the company’s stock.

BA has been the subject of several research reports. Sanford C. Bernstein upped their target price on Boeing from $402.00 to $422.00 in a report on Friday, February 2nd. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $330.00 target price for the company in a report on Tuesday, January 2nd. Cowen reiterated a “buy” rating and issued a $320.00 target price on shares of Boeing in a report on Monday, December 11th. JPMorgan Chase & Co. set a $325.00 target price on Boeing and gave the stock a “buy” rating in a report on Tuesday, December 12th. Finally, Bank of America set a $320.00 target price on Boeing and gave the stock a “buy” rating in a report on Tuesday, December 12th. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $365.99.

NYSE:BA opened at $327.88 on Friday. The firm has a market capitalization of $192,954.20, a PE ratio of 27.23, a P/E/G ratio of 1.70 and a beta of 1.37. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37. Boeing has a 12 month low of $175.47 and a 12 month high of $371.60.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The company had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. During the same period in the prior year, the company posted $2.47 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. research analysts expect that Boeing will post 14.05 earnings per share for the current year.

Boeing declared that its Board of Directors has initiated a stock buyback plan on Monday, December 11th that allows the company to buyback $18.00 billion in outstanding shares. This buyback authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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