State of New Jersey Common Pension Fund D Has $32.83 Million Stock Position in The Boeing Company (NYSE:BA)

State of New Jersey Common Pension Fund D boosted its stake in shares of The Boeing Company (NYSE:BA) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,898 shares of the aircraft producer’s stock after purchasing an additional 1,851 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Boeing were worth $32,825,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the period. Newport Trust Company LLC lifted its position in Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after buying an additional 106,513 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after buying an additional 67,474 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares during the period. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

BA stock traded up $0.70 during mid-day trading on Friday, hitting $151.68. 12,996,805 shares of the company were exchanged, compared to its average volume of 18,301,298. The Boeing Company has a 1-year low of $144.13 and a 1-year high of $267.54. The firm’s 50 day simple moving average is $155.31 and its 200 day simple moving average is $170.34. The firm has a market cap of $93.77 billion, a P/E ratio of -11.76 and a beta of 1.57.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the company posted ($3.26) earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts predict that The Boeing Company will post -16.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BA shares. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company dropped their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Thursday, October 24th. Finally, Stifel Nicolaus boosted their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boeing has a consensus rating of “Hold” and a consensus price target of $190.37.

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.