Raymond James Financial Inc. Acquires New Stake in The Boeing Company (NYSE:BA)

Raymond James Financial Inc. bought a new position in The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,304,771 shares of the aircraft producer’s stock, valued at approximately $230,944,000.

Other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in Boeing by 25.6% in the 4th quarter. Arizona State Retirement System now owns 210,519 shares of the aircraft producer’s stock worth $37,262,000 after buying an additional 42,872 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Boeing during the fourth quarter valued at $293,000. M&T Bank Corp grew its stake in shares of Boeing by 3.5% during the 4th quarter. M&T Bank Corp now owns 73,705 shares of the aircraft producer’s stock valued at $13,046,000 after acquiring an additional 2,483 shares during the period. Atria Investments Inc boosted its position in shares of Boeing by 0.5% in the fourth quarter. Atria Investments Inc now owns 65,874 shares of the aircraft producer’s stock worth $11,660,000 after purchasing an additional 312 shares during the period. Finally, Assetmark Inc. boosted its holdings in Boeing by 92.4% in the 4th quarter. Assetmark Inc. now owns 2,034 shares of the aircraft producer’s stock worth $360,000 after buying an additional 977 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Down 2.8 %

Shares of NYSE BA opened at $158.52 on Friday. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $203.80. The firm has a market cap of $118.90 billion, a P/E ratio of -8.65 and a beta of 1.52. The business’s 50 day moving average price is $175.56 and its 200 day moving average price is $164.45.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the prior year, the business posted ($0.47) EPS. As a group, research analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction that occurred 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 owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on BA. JPMorgan Chase & Co. increased their price objective on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. UBS Group lifted their target price on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $195.16.

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.