The Boeing Company (NYSE:BA) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in The Boeing Company (NYSE:BA) by 21.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 272,262 shares of the aircraft producer’s stock after buying an additional 47,930 shares during the period. Pictet Asset Management Holding SA’s holdings in Boeing were worth $48,190,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in shares of Boeing during the 3rd quarter worth about $1,295,000. Public Sector Pension Investment Board grew its stake in Boeing by 17.4% during the third quarter. Public Sector Pension Investment Board now owns 25,590 shares of the aircraft producer’s stock worth $3,891,000 after buying an additional 3,800 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Boeing by 12.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,239 shares of the aircraft producer’s stock worth $2,773,000 after acquiring an additional 1,956 shares in the last quarter. Tradition Wealth Management LLC raised its stake in shares of Boeing by 20.7% in the 3rd quarter. Tradition Wealth Management LLC now owns 2,156 shares of the aircraft producer’s stock valued at $328,000 after acquiring an additional 370 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in shares of Boeing during the 3rd quarter valued at $106,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Activity

In related news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the transaction, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

BA has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Barclays raised 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. Melius Research raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Finally, Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $195.68.

Boeing Price Performance

Shares of BA opened at $172.98 on Monday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $196.95. The business’s fifty day moving average price is $173.98 and its 200 day moving average price is $164.22. The stock has a market capitalization of $129.74 billion, a PE ratio of -9.44 and a beta of 1.53.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 quarter last year, the company earned ($0.47) EPS. As a group, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Boeing 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.