Principal Financial Group Inc. Has $101.30 Million Stock Position in The Boeing Company (NYSE:BA)

Principal Financial Group Inc. raised its stake in The Boeing Company (NYSE:BA) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 666,244 shares of the aircraft producer’s stock after acquiring an additional 38,332 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Boeing worth $101,296,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BA. Wealth Alliance Advisory Group LLC increased its stake in shares of Boeing by 1.6% during the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after purchasing an additional 60 shares during the period. IMS Capital Management lifted its holdings in shares of Boeing by 0.4% during the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after buying an additional 62 shares in the last quarter. Peoples Financial Services CORP. boosted its position in shares of Boeing by 0.8% in the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after acquiring an additional 67 shares during the period. POM Investment Strategies LLC grew its stake in shares of Boeing by 7.0% in the second quarter. POM Investment Strategies LLC now owns 1,070 shares of the aircraft producer’s stock valued at $195,000 after acquiring an additional 70 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its position in Boeing by 0.9% during the second quarter. Banque Cantonale Vaudoise now owns 7,678 shares of the aircraft producer’s stock worth $1,398,000 after acquiring an additional 70 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

Shares of NYSE BA opened at $177.35 on Friday. The firm has a 50 day moving average price of $155.10 and a two-hundred day moving average price of $166.06. The stock has a market cap of $109.64 billion, a P/E ratio of -13.75 and a beta of 1.56. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) EPS. Analysts predict that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent research reports. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, October 15th. Susquehanna lowered their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Finally, Robert W. Baird decreased their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $190.11.

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.