Principal Financial Group Inc. Has $149.60 Million Holdings in The Boeing Company (NYSE:BA)

Principal Financial Group Inc. grew its stake in The Boeing Company (NYSE:BA) by 26.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 845,191 shares of the aircraft producer’s stock after buying an additional 178,947 shares during the quarter. Principal Financial Group Inc.’s holdings in Boeing were worth $149,599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BA. Exchange Traded Concepts LLC boosted its holdings in shares of Boeing by 691.3% in the third quarter. Exchange Traded Concepts LLC now owns 1,725 shares of the aircraft producer’s stock valued at $262,000 after buying an additional 1,507 shares during the period. Chicago Capital LLC boosted its holdings in Boeing by 3.5% during the third quarter. Chicago Capital LLC now owns 4,858 shares of the aircraft producer’s stock worth $739,000 after purchasing an additional 165 shares during the last quarter. Vest Financial LLC boosted its holdings in Boeing by 202.1% during the third quarter. Vest Financial LLC now owns 4,329 shares of the aircraft producer’s stock worth $658,000 after purchasing an additional 2,896 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Boeing by 90.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 71,090 shares of the aircraft producer’s stock worth $10,809,000 after purchasing an additional 33,695 shares during the last quarter. Finally, Wealth Effects LLC boosted its holdings in Boeing by 1.6% during the third quarter. Wealth Effects LLC now owns 11,172 shares of the aircraft producer’s stock worth $1,699,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 0.5 %

BA stock opened at $184.52 on Tuesday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $208.10. The firm has a market cap of $138.40 billion, a P/E ratio of -10.07 and a beta of 1.52. The company’s 50-day moving average price is $174.96 and its two-hundred day moving average price is $163.90.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the company earned ($0.47) EPS. Equities analysts predict that The Boeing Company will post -2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

BA has been the subject of several recent research reports. 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. Susquehanna upped their price target on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Morgan Stanley dropped their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird cut their target price 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, Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

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.