Principal Financial Group Inc. Has $149.60 Million Stake in The Boeing Company (NYSE:BA)

Principal Financial Group Inc. grew its stake in The Boeing Company (NYSE:BA) by 26.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 845,191 shares of the aircraft producer’s stock after purchasing an additional 178,947 shares during the period. Principal Financial Group Inc. owned about 0.14% of Boeing worth $149,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new stake in Boeing in the 4th quarter worth $26,000. Sugar Maple Asset Management LLC acquired a new stake in Boeing in the 4th quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new stake in Boeing in the 3rd quarter worth $28,000. Fiduciary Advisors Inc. acquired a new stake in Boeing in the 4th quarter worth $28,000. Finally, Cedar Wealth Management LLC acquired a new stake in Boeing in the 3rd quarter worth $30,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Down 0.5 %

Shares of NYSE BA opened at $184.52 on Tuesday. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $208.10. The company has a market cap of $138.40 billion, a PE ratio of -10.07 and a beta of 1.52. The company has a 50-day moving average of $174.96 and a two-hundred day moving average of $163.90.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the company earned ($0.47) EPS. As a group, equities research analysts forecast that The Boeing Company will post -2.3 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on BA shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Wells Fargo & Company lifted their target price on shares of Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Citigroup lifted their target price on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Morgan Stanley decreased their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $195.16.

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.