NJ State Employees Deferred Compensation Plan Acquires Shares of 2,300 The Boeing Company (NYSE:BA)

NJ State Employees Deferred Compensation Plan acquired a new position in shares of The Boeing Company (NYSE:BA) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,300 shares of the aircraft producer’s stock, valued at approximately $600,000.

Several other hedge funds have also made changes to their positions in BA. Vanguard Group Inc. raised its holdings in Boeing by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 47,609,508 shares of the aircraft producer’s stock valued at $9,125,790,000 after acquiring an additional 356,496 shares during the last quarter. Morgan Stanley increased its stake in Boeing by 1.1% during the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock worth $1,602,880,000 after acquiring an additional 91,801 shares during the last quarter. Northern Trust Corp increased its position in shares of Boeing by 3.2% in the third quarter. Northern Trust Corp now owns 4,951,181 shares of the aircraft producer’s stock worth $949,042,000 after acquiring an additional 153,168 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Boeing during the fourth quarter valued at approximately $960,397,000. Finally, Invesco Ltd. grew its stake in shares of Boeing by 30.1% during the third quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after acquiring an additional 759,267 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Royal Bank of Canada reduced their target price on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boeing from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group decreased their target price on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Melius Research reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Finally, Melius reiterated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $222.41.

Boeing Stock Up 0.2 %

BA traded up $0.41 during midday trading on Friday, reaching $167.22. 7,163,420 shares of the company’s stock were exchanged, compared to its average volume of 9,741,102. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The business has a 50-day simple moving average of $187.26 and a two-hundred day simple moving average of $206.61. The firm has a market capitalization of $102.03 billion, a price-to-earnings ratio of -46.83, a price-to-earnings-growth ratio of 130.13 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the prior year, the business earned ($1.75) EPS. Boeing’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts anticipate that The Boeing Company will post 0.32 EPS for the current fiscal year.

About Boeing

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.