Sumitomo Mitsui Trust Holdings Inc. Has $569.04 Million Stake in Boeing (BA)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Boeing (NYSE:BA) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,929,529 shares of the aircraft producer’s stock after acquiring an additional 14,683 shares during the period. Boeing accounts for approximately 0.7% of Sumitomo Mitsui Trust Holdings Inc.’s portfolio, making the stock its 27th biggest position. Sumitomo Mitsui Trust Holdings Inc. owned about 0.32% of Boeing worth $569,037,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aries Wealth Management purchased a new stake in Boeing in the 4th quarter valued at about $566,000. Cypress Wealth Services LLC purchased a new stake in Boeing in the 4th quarter valued at about $905,000. Allegis Investment Advisors LLC raised its holdings in Boeing by 27.8% in the 4th quarter. Allegis Investment Advisors LLC now owns 3,560 shares of the aircraft producer’s stock valued at $1,050,000 after buying an additional 775 shares during the period. First National Bank of Omaha raised its holdings in Boeing by 10.5% in the 4th quarter. First National Bank of Omaha now owns 4,351 shares of the aircraft producer’s stock valued at $1,283,000 after buying an additional 412 shares during the period. Finally, Monument Capital Management purchased a new stake in Boeing in the 4th quarter valued at about $2,010,000. Institutional investors and hedge funds own 70.76% of the company’s stock.

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Shares of Boeing stock opened at $326.12 on Friday. Boeing has a one year low of $175.47 and a one year high of $371.60. The stock has a market cap of $191,918.36, a PE ratio of 27.00, a P/E/G ratio of 1.69 and a beta of 1.39. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, topping the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The business had revenue of $25.37 billion during the quarter, compared to the consensus estimate of $24.78 billion. During the same period in the previous year, the company posted $2.47 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. sell-side analysts predict that Boeing will post 14.05 earnings per share for the current year.

Boeing declared that its Board of Directors has initiated a share buyback plan on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Several analysts recently issued reports on the stock. Royal Bank of Canada restated a “hold” rating and issued a $358.00 price objective (down from $378.00) on shares of Boeing in a report on Friday. Morgan Stanley restated a “hold” rating and issued a $373.00 price objective on shares of Boeing in a report on Thursday. Barclays restated a “buy” rating and issued a $388.00 price objective on shares of Boeing in a report on Wednesday. Societe Generale set a $373.00 price objective on shares of Boeing and gave the company a “neutral” rating in a report on Thursday, February 1st. Finally, Vetr downgraded Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 target price for the company. in a research report on Thursday, March 8th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $365.19.

In other news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

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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.

Institutional Ownership by Quarter for Boeing (NYSE:BA)

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