Virginia Retirement Systems ET AL Has $63.11 Million Stake in Boeing Co (BA)

Virginia Retirement Systems ET AL grew its position in Boeing Co (NYSE:BA) by 21.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,700 shares of the aircraft producer’s stock after buying an additional 33,900 shares during the quarter. Boeing accounts for about 0.9% of Virginia Retirement Systems ET AL’s portfolio, making the stock its 18th largest holding. Virginia Retirement Systems ET AL’s holdings in Boeing were worth $63,113,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BA. Howe & Rusling Inc. boosted its stake in shares of Boeing by 1.3% in the 4th quarter. Howe & Rusling Inc. now owns 2,416 shares of the aircraft producer’s stock valued at $779,000 after purchasing an additional 31 shares during the last quarter. Nikulski Financial Inc. boosted its stake in Boeing by 1.3% during the fourth quarter. Nikulski Financial Inc. now owns 2,644 shares of the aircraft producer’s stock worth $853,000 after acquiring an additional 34 shares in the last quarter. Kanawha Capital Management LLC boosted its stake in Boeing by 5.1% during the fourth quarter. Kanawha Capital Management LLC now owns 727 shares of the aircraft producer’s stock worth $234,000 after acquiring an additional 35 shares in the last quarter. Hartford Financial Management Inc. boosted its stake in Boeing by 0.6% during the fourth quarter. Hartford Financial Management Inc. now owns 6,134 shares of the aircraft producer’s stock worth $1,978,000 after acquiring an additional 36 shares in the last quarter. Finally, Adirondack Trust Co. boosted its stake in Boeing by 0.9% during the fourth quarter. Adirondack Trust Co. now owns 4,252 shares of the aircraft producer’s stock worth $1,371,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 69.77% of the company’s stock.

BA opened at $364.94 on Thursday. The stock has a market cap of $208.32 billion, a P/E ratio of 22.79, a P/E/G ratio of 1.81 and a beta of 1.33. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.08 and a quick ratio of 0.31. Boeing Co has a fifty-two week low of $292.47 and a fifty-two week high of $446.01.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.52 by $0.96. The company had revenue of $28.34 billion during the quarter, compared to analyst estimates of $26.76 billion. Boeing had a net margin of 10.34% and a negative return on equity of 4,286.60%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.04 earnings per share. Analysts predict that Boeing Co will post 18.23 earnings per share for the current year.

Boeing declared that its board has approved a share repurchase plan on Monday, December 17th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the aircraft producer to purchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, SVP Heidi B. Capozzi sold 2,916 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $410.84, for a total value of $1,198,009.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregory D. Smith sold 19,500 shares of the firm’s stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $401.38, for a total transaction of $7,826,910.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,247 shares of company stock valued at $28,922,977. 0.23% of the stock is owned by company insiders.

BA has been the topic of several research analyst reports. Morgan Stanley increased their target price on shares of Boeing from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, February 28th. Jefferies Financial Group increased their target price on shares of Boeing to $448.00 and gave the stock a “buy” rating in a research note on Monday, February 4th. JPMorgan Chase & Co. increased their target price on shares of Boeing to $450.00 and gave the stock an “overweight” rating in a research note on Monday, February 11th. Credit Suisse Group restated a “buy” rating and set a $456.00 price objective on shares of Boeing in a report on Tuesday, December 18th. Finally, Nord/LB restated a “sell” rating and set a $300.00 price objective on shares of Boeing in a report on Wednesday, March 13th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $409.61.

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About Boeing

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.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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