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

NJ State Employees Deferred Compensation Plan purchased a new position in shares of The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,300 shares of the aircraft producer’s stock, valued at approximately $600,000.

A number of other institutional investors have also recently added to or reduced their stakes in BA. Jennison Associates LLC acquired a new stake in shares of Boeing during the fourth quarter worth about $960,397,000. Lazard Asset Management LLC grew its holdings in shares of Boeing by 8,961.2% during the third quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock worth $222,628,000 after buying an additional 1,148,643 shares during the last quarter. Barclays PLC lifted its holdings in shares of Boeing by 54.5% during the third quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock worth $450,783,000 after purchasing an additional 829,321 shares during the period. Invesco Ltd. raised its holdings in Boeing by 30.1% during the third quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock worth $628,599,000 after purchasing an additional 759,267 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Boeing by 726.7% in the 4th quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock worth $162,888,000 after acquiring an additional 549,318 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on BA shares. The Goldman Sachs Group cut their target price on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Royal Bank of Canada lowered their target price on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. UBS Group cut their target price on Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Barclays lowered their price target on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Stifel Nicolaus decreased their target price on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $222.41.

Boeing Price Performance

BA traded up $0.41 during trading hours on Friday, hitting $167.22. 7,163,420 shares of the stock were exchanged, compared to its average volume of 9,741,102. The stock has a 50-day simple moving average of $187.26 and a 200-day simple moving average of $206.61. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The stock has a market cap 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 issued its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned ($1.75) EPS. Sell-side analysts expect that The Boeing Company will post 0.32 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.