Alberta Investment Management Corp Invests $3.05 Million in The Boeing Company (NYSE:BA)

Alberta Investment Management Corp purchased a new stake in shares of The Boeing Company (NYSE:BA) during the 4th quarter, Holdings Channel.com reports. The fund purchased 17,241 shares of the aircraft producer’s stock, valued at approximately $3,052,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in shares of Boeing during the fourth quarter valued at $26,000. Sugar Maple Asset Management LLC bought a new stake in Boeing during the 4th quarter valued at about $27,000. RPg Family Wealth Advisory LLC purchased a new stake in Boeing in the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. bought a new position in Boeing in the 4th quarter worth about $28,000. Finally, HighMark Wealth Management LLC increased its position in shares of Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after acquiring an additional 90 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on BA shares. Susquehanna boosted their price target on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their target price on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Benchmark restated a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Robert W. Baird lowered their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.16.

Boeing Stock Performance

Shares of BA stock opened at $180.77 on Friday. The stock’s 50-day simple moving average is $176.58 and its 200-day simple moving average is $164.32. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $208.10. The firm has a market capitalization of $135.59 billion, a price-to-earnings ratio of -9.87 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the prior year, the business earned ($0.47) earnings per share. As a group, equities analysts forecast that The Boeing Company will post -2.32 earnings per share 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.