State of Michigan Retirement System Increases Position in The Boeing Company (NYSE:BA)

State of Michigan Retirement System raised its position in The Boeing Company (NYSE:BA - Free Report) by 27.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 202,896 shares of the aircraft producer's stock after buying an additional 43,500 shares during the period. State of Michigan Retirement System's holdings in Boeing were worth $35,913,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Princeton Global Asset Management LLC increased its holdings in Boeing by 44.8% in the third quarter. Princeton Global Asset Management LLC now owns 643 shares of the aircraft producer's stock valued at $98,000 after buying an additional 199 shares in the last quarter. Janney Capital Management LLC increased its stake in shares of Boeing by 5.6% during the third quarter. Janney Capital Management LLC now owns 2,809 shares of the aircraft producer's stock worth $427,000 after purchasing an additional 150 shares in the last quarter. Angeles Wealth Management LLC increased its stake in shares of Boeing by 47.9% during the third quarter. Angeles Wealth Management LLC now owns 2,501 shares of the aircraft producer's stock worth $380,000 after purchasing an additional 810 shares in the last quarter. Forum Financial Management LP increased its stake in shares of Boeing by 12.0% during the third quarter. Forum Financial Management LP now owns 5,929 shares of the aircraft producer's stock worth $901,000 after purchasing an additional 634 shares in the last quarter. Finally, KG&L Capital Management LLC increased its stake in shares of Boeing by 3.8% during the third quarter. KG&L Capital Management LLC now owns 31,961 shares of the aircraft producer's stock worth $4,867,000 after purchasing an additional 1,165 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insider Buying and Selling

In related news, EVP Uma M. Amuluru sold 3,159 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares of the company's stock, 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 accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Boeing Stock Performance

Shares of Boeing stock traded down $10.93 on Tuesday, reaching $159.14. The company had a trading volume of 15,829,944 shares, compared to its average volume of 7,761,621. The firm's 50 day moving average price is $176.72 and its two-hundred day moving average price is $164.64. The firm has a market cap of $119.36 billion, a PE ratio of -8.69 and a beta of 1.52. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $203.80.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the firm earned ($0.47) EPS. As a group, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Analyst Ratings Changes

BA has been the subject of a number of research reports. UBS Group boosted their target price on shares of Boeing from $208.00 to $217.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Northcoast Research raised shares of Boeing from a "sell" rating to a "neutral" rating in a research note on Thursday, December 12th. Citigroup boosted their target price on shares of Boeing from $207.00 to $210.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Barclays raised shares of Boeing from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. Finally, Susquehanna boosted their price target on shares of Boeing from $200.00 to $205.00 and gave the stock a "positive" rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.