Castle Hook Partners LP Makes New Investment in The Boeing Company (NYSE:BA)

Castle Hook Partners LP acquired a new stake in The Boeing Company (NYSE:BA - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 23,718 shares of the aircraft producer's stock, valued at approximately $4,198,000.

A number of other large investors have also bought and sold shares of BA. Vanguard Group Inc. boosted its holdings in Boeing by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock worth $11,406,361,000 after purchasing an additional 12,641,715 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after buying an additional 3,452,075 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Boeing in the 4th quarter valued at about $568,000. Alyeska Investment Group L.P. bought a new stake in Boeing during the fourth quarter worth about $526,889,000. Finally, Northern Trust Corp boosted its position in Boeing by 33.6% during the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock valued at $1,151,316,000 after purchasing an additional 1,634,231 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of analyst reports. Susquehanna upped their price objective on Boeing from $200.00 to $205.00 and gave the stock a "positive" rating in a research note on Wednesday, January 29th. Melius raised shares of Boeing from a "hold" rating to a "buy" rating in a research report on Monday, March 24th. TD Securities reissued a "buy" rating and issued a $180.00 price objective on shares of Boeing in a research report on Thursday, April 24th. Cowen reaffirmed a "buy" rating on shares of Boeing in a report on Wednesday. Finally, Citigroup lifted their price target on Boeing from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $201.85.

Boeing Stock Up 1.5 %

Shares of BA traded up $2.83 during mid-day trading on Friday, hitting $194.53. 7,653,112 shares of the company's stock were exchanged, compared to its average volume of 9,060,387. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $196.95. The stock's 50-day simple moving average is $166.31 and its 200-day simple moving average is $166.60. The firm has a market cap of $146.68 billion, a price-to-earnings ratio of -10.62 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. Boeing's revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.13) earnings per share. Analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the sale, the executive vice president now directly owns 42,513 shares in the company, valued at $7,950,356.13. This represents a 8.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

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.