Putnam Investments LLC Has $2.41 Million Stock Holdings in The Boeing Company (NYSE:BA)

Putnam Investments LLC decreased its position in shares of The Boeing Company (NYSE:BA – Get Rating) by 0.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,893 shares of the aircraft producer’s stock after selling 174 shares during the quarter. Putnam Investments LLC’s holdings in Boeing were worth $2,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Boeing by 18.4% in the second quarter. FMR LLC now owns 17,901,503 shares of the aircraft producer’s stock worth $2,447,494,000 after purchasing an additional 2,781,349 shares during the period. Barclays PLC grew its position in Boeing by 189.7% in the third quarter. Barclays PLC now owns 1,894,753 shares of the aircraft producer’s stock valued at $229,414,000 after acquiring an additional 1,240,669 shares during the last quarter. Newport Trust Co grew its position in Boeing by 2.7% in the second quarter. Newport Trust Co now owns 44,678,806 shares of the aircraft producer’s stock valued at $6,108,487,000 after acquiring an additional 1,168,565 shares during the last quarter. Renaissance Technologies LLC bought a new position in Boeing in the first quarter valued at about $135,429,000. Finally, Wellington Management Group LLP grew its position in Boeing by 125.0% in the first quarter. Wellington Management Group LLP now owns 1,139,143 shares of the aircraft producer’s stock valued at $218,147,000 after acquiring an additional 632,913 shares during the last quarter. Institutional investors own 57.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BA. Bank of America lifted their target price on Boeing from $165.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday, December 7th. Robert W. Baird lifted their price target on Boeing from $210.00 to $250.00 in a research note on Tuesday, January 3rd. Credit Suisse Group set a $200.00 price target on Boeing in a research note on Thursday, January 26th. The Goldman Sachs Group set a $261.00 price target on Boeing in a research note on Wednesday, February 15th. Finally, Jefferies Financial Group lifted their price objective on Boeing from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 30th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.13.

Boeing Trading Up 0.9 %

Shares of Boeing stock opened at $203.07 on Monday. The stock has a fifty day simple moving average of $208.94 and a 200 day simple moving average of $176.81. The Boeing Company has a 12-month low of $113.02 and a 12-month high of $221.33. The company has a market capitalization of $121.67 billion, a P/E ratio of -24.50, a price-to-earnings-growth ratio of 54.52 and a beta of 1.43.

Boeing (NYSE:BA – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The aircraft producer reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.80). The business had revenue of $19.98 billion during the quarter, compared to analysts’ expectations of $20.10 billion. Boeing’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the previous year, the business earned ($7.69) EPS. On average, analysts predict that The Boeing Company will post 0.93 EPS for the current year.

Boeing Company Profile

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The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.