Canada Pension Plan Investment Board Sells 336,432 Shares of The Boeing Company (NYSE:BA)

Canada Pension Plan Investment Board reduced its position in shares of The Boeing Company (NYSE:BAGet Rating) by 64.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,528 shares of the aircraft producer’s stock after selling 336,432 shares during the period. Canada Pension Plan Investment Board’s holdings in Boeing were worth $35,912,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BA. Bowling Portfolio Management LLC increased its stake in shares of Boeing by 4.1% in the first quarter. Bowling Portfolio Management LLC now owns 3,787 shares of the aircraft producer’s stock worth $725,000 after purchasing an additional 148 shares in the last quarter. Shell Asset Management Co. grew its stake in Boeing by 0.9% during the first quarter. Shell Asset Management Co. now owns 25,335 shares of the aircraft producer’s stock valued at $4,852,000 after acquiring an additional 214 shares in the last quarter. New York State Common Retirement Fund grew its stake in Boeing by 0.4% during the first quarter. New York State Common Retirement Fund now owns 985,948 shares of the aircraft producer’s stock valued at $188,809,000 after acquiring an additional 3,800 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in Boeing by 14.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 2,587 shares of the aircraft producer’s stock valued at $495,000 after acquiring an additional 317 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its stake in Boeing by 4.0% during the first quarter. Douglas Lane & Associates LLC now owns 3,635 shares of the aircraft producer’s stock valued at $696,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Boeing Stock Up 1.2 %

Shares of NYSE BA opened at $157.79 on Friday. The Boeing Company has a 52 week low of $113.02 and a 52 week high of $233.94. The firm’s fifty day moving average is $157.24 and its 200 day moving average is $159.22. The company has a market cap of $93.70 billion, a price-to-earnings ratio of -17.63 and a beta of 1.35.

Boeing (NYSE:BAGet Rating) last issued its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.23). The company had revenue of $16.68 billion for the quarter, compared to the consensus estimate of $17.53 billion. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. Equities research analysts anticipate that The Boeing Company will post -1.9 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on BA shares. Robert W. Baird reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Boeing in a research note on Wednesday. Susquehanna dropped their target price on shares of Boeing from $193.00 to $192.00 in a research report on Friday, May 20th. Bank of America lifted their target price on shares of Boeing from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group reiterated a “buy” rating and set a $281.00 target price on shares of Boeing in a research report on Tuesday, August 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boeing from $188.00 to $200.00 in a report on Thursday, July 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $220.06.

Boeing Profile

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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 through 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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