Retirement Systems of Alabama Has $83.36 Million Stock Holdings in The Boeing Company (NYSE:BA)

Retirement Systems of Alabama decreased its position in The Boeing Company (NYSE:BA) by 1.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 319,813 shares of the aircraft producer’s stock after selling 3,384 shares during the period. Retirement Systems of Alabama owned approximately 0.05% of Boeing worth $83,362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CNB Bank boosted its stake in Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares during the period. Evolution Advisers Inc. acquired a new position in Boeing in the 4th quarter worth $28,000. Lowe Wealth Advisors LLC acquired a new position in Boeing in the 3rd quarter worth $43,000. Naples Money Management LLC bought a new stake in Boeing during the 4th quarter worth about $44,000. Finally, Blue Bell Private Wealth Management LLC lifted its position in Boeing by 66.2% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock worth $45,000 after buying an additional 94 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on BA shares. Sanford C. Bernstein cut their price target on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Wells Fargo & Company cut their price target on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 1st. UBS Group cut their price target on shares of Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Edward Jones cut shares of Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Citigroup dropped their target price on shares of Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $222.41.

Boeing Price Performance

Boeing stock traded up $0.41 during trading hours on Friday, hitting $167.22. The company had a trading volume of 7,208,103 shares, compared to its average volume of 7,379,195. The firm has a market cap of $102.65 billion, a PE ratio of -47.10, a PEG ratio of 140.43 and a beta of 1.52. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The firm has a 50-day moving average of $186.53 and a 200 day moving average of $206.55.

Boeing (NYSE:BA) last announced 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 for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the previous year, the company earned ($1.75) EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts expect that The Boeing Company will post -0.3 earnings per share for the current 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.