Boeing Co (NYSE:BA) Position Boosted by Cigna Investments Inc. New

Cigna Investments Inc. New lifted its stake in shares of Boeing Co (NYSE:BA) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,046 shares of the aircraft producer’s stock after purchasing an additional 910 shares during the period. Cigna Investments Inc. New’s holdings in Boeing were worth $2,244,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Fagan Associates Inc. boosted its holdings in Boeing by 0.4% during the 4th quarter. Fagan Associates Inc. now owns 8,394 shares of the aircraft producer’s stock valued at $2,735,000 after acquiring an additional 30 shares during the period. Altavista Wealth Management Inc. boosted its holdings in Boeing by 5.2% during the 4th quarter. Altavista Wealth Management Inc. now owns 632 shares of the aircraft producer’s stock valued at $206,000 after acquiring an additional 31 shares during the period. Regal Investment Advisors LLC boosted its holdings in Boeing by 1.2% during the 4th quarter. Regal Investment Advisors LLC now owns 2,788 shares of the aircraft producer’s stock valued at $908,000 after acquiring an additional 34 shares during the period. Novare Capital Management LLC boosted its holdings in Boeing by 2.0% during the 4th quarter. Novare Capital Management LLC now owns 1,804 shares of the aircraft producer’s stock valued at $588,000 after acquiring an additional 35 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its holdings in Boeing by 3.5% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,037 shares of the aircraft producer’s stock valued at $338,000 after acquiring an additional 35 shares during the period. 65.59% of the stock is currently owned by institutional investors and hedge funds.

Shares of BA traded down $1.47 during mid-day trading on Friday, reaching $137.53. The company had a trading volume of 21,072,749 shares, compared to its average volume of 33,287,024. Boeing Co has a 52-week low of $89.00 and a 52-week high of $391.00. The stock has a market capitalization of $78.44 billion, a P/E ratio of -22.69 and a beta of 1.45. The stock has a 50 day moving average of $135.22 and a two-hundred day moving average of $264.07.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 29th. The aircraft producer reported ($1.70) EPS for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.34. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.84%. The firm had revenue of $16.91 billion for the quarter, compared to the consensus estimate of $16.90 billion. During the same quarter in the prior year, the business earned $3.16 earnings per share. The company’s revenue was down 26.2% compared to the same quarter last year. Analysts anticipate that Boeing Co will post -5.05 earnings per share for the current year.

Several brokerages have weighed in on BA. Zacks Investment Research cut Boeing from a “hold” rating to a “sell” rating and set a $146.00 target price for the company. in a report on Friday, April 24th. ValuEngine cut Boeing from a “strong-buy” rating to a “buy” rating in a report on Friday, May 1st. Canaccord Genuity lowered their target price on Boeing from $175.00 to $155.00 and set a “hold” rating for the company in a report on Friday. Robert W. Baird lowered their target price on Boeing from $322.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Finally, UBS Group reduced their price target on Boeing from $284.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. Boeing currently has a consensus rating of “Hold” and an average target price of $231.04.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

Featured Article: Technical Indicators – What is a Golden Cross?

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boeing Co (NYSE:BA).

Institutional Ownership by Quarter for Boeing (NYSE:BA)

Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.