Allstate Corp Takes Position in The Boeing Company (NYSE:BA)

Allstate Corp bought a new position in The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,615 shares of the aircraft producer’s stock, valued at approximately $3,826,000.

Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Boeing in the 3rd quarter worth approximately $1,295,000. CreativeOne Wealth LLC boosted its holdings in Boeing by 5.3% in the third quarter. CreativeOne Wealth LLC now owns 5,911 shares of the aircraft producer’s stock valued at $899,000 after acquiring an additional 298 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Boeing by 5.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,689 shares of the aircraft producer’s stock valued at $20,326,000 after purchasing an additional 7,298 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Boeing by 16.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,472,126 shares of the aircraft producer’s stock worth $375,862,000 after purchasing an additional 348,652 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Boeing by 17.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 25,590 shares of the aircraft producer’s stock worth $3,891,000 after purchasing an additional 3,800 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Susquehanna boosted their price target on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their target price on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Finally, Wells Fargo & Company increased their price objective on Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.68.

Boeing Price Performance

Shares of NYSE:BA opened at $172.98 on Friday. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $196.95. The stock’s fifty day moving average price is $173.98 and its 200-day moving average price is $164.17. The company has a market cap of $129.74 billion, a P/E ratio of -9.44 and a beta of 1.53.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the previous year, the firm earned ($0.47) EPS. On average, sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Boeing 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.