Arizona State Retirement System Buys 3,108 Shares of The Boeing Company (NYSE:BA)

Arizona State Retirement System boosted its holdings in The Boeing Company (NYSE:BA - Free Report) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,037 shares of the aircraft producer's stock after buying an additional 3,108 shares during the period. Arizona State Retirement System's holdings in Boeing were worth $30,584,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing in the 4th quarter valued at $26,000. Vima LLC acquired a new stake in shares of Boeing in the 4th quarter valued at $34,000. Hobbs Group Advisors LLC bought a new stake in shares of Boeing in the 2nd quarter worth about $34,000. McClarren Financial Advisors Inc. increased its position in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer's stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Finally, Bfsg LLC bought a new position in Boeing during the 1st quarter valued at about $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Down 2.8 %

Boeing stock traded down $4.50 during midday trading on Friday, hitting $157.65. 7,321,497 shares of the stock were exchanged, compared to its average volume of 7,886,446. The stock has a market capitalization of $96.78 billion, a PE ratio of -45.68 and a beta of 1.56. The company has a fifty day simple moving average of $177.02 and a two-hundred day simple moving average of $181.13. The Boeing Company has a 52 week low of $156.70 and a 52 week high of $267.54.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts' consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. The firm's quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.82) earnings per share. As a group, equities research analysts anticipate that The Boeing Company will post -4.26 EPS for the current fiscal year.

Analysts Set New Price Targets

BA has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of Boeing from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, June 13th. Wells Fargo & Company reissued an "underweight" rating and issued a $119.00 price objective (down previously from $185.00) on shares of Boeing in a research note on Tuesday. Baird R W raised Boeing to a "strong-buy" rating in a report on Monday, June 3rd. Robert W. Baird decreased their price objective on shares of Boeing from $300.00 to $240.00 and set an "outperform" rating on the stock in a report on Monday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $225.00 target price on shares of Boeing in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $211.29.

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.