New Mexico Educational Retirement Board Grows Stake in The Boeing Company (NYSE:BA)

New Mexico Educational Retirement Board lifted its stake in The Boeing Company (NYSE:BA) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,895 shares of the aircraft producer’s stock after buying an additional 2,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Boeing were worth $6,108,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BA. Atticus Wealth Management LLC increased its holdings in Boeing by 29.4% during the 1st quarter. Atticus Wealth Management LLC now owns 414 shares of the aircraft producer’s stock worth $80,000 after purchasing an additional 94 shares during the last quarter. Winthrop Advisory Group LLC increased its stake in shares of Boeing by 90.5% in the first quarter. Winthrop Advisory Group LLC now owns 3,543 shares of the aircraft producer’s stock worth $684,000 after buying an additional 1,683 shares during the last quarter. Vicus Capital raised its holdings in Boeing by 15.6% in the first quarter. Vicus Capital now owns 1,144 shares of the aircraft producer’s stock valued at $221,000 after acquiring an additional 154 shares in the last quarter. Grimes & Company Inc. boosted its stake in Boeing by 2.7% during the 1st quarter. Grimes & Company Inc. now owns 42,389 shares of the aircraft producer’s stock valued at $8,181,000 after acquiring an additional 1,119 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Boeing during the 1st quarter worth $310,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BA. TD Cowen decreased their price objective on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, March 25th. UBS Group lowered their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Argus cut shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. StockNews.com lowered Boeing from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada cut their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $220.89.

Boeing Stock Performance

Shares of NYSE BA traded down $0.50 during trading on Friday, hitting $182.01. 5,899,850 shares of the company traded hands, compared to its average volume of 5,801,654. The firm has a market capitalization of $111.73 billion, a price-to-earnings ratio of -51.27 and a beta of 1.55. The business’s fifty day moving average is $178.50 and its 200 day moving average is $198.42. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $17.69 billion. On average, analysts predict that The Boeing Company will post -1.67 EPS for the current year.

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.