Corton Capital Inc. Takes Position in The Boeing Company (NYSE:BA)

Corton Capital Inc. purchased a new position in shares of The Boeing Company (NYSE:BA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,676 shares of the aircraft producer's stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sierra Ocean LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $26,000. Sugar Maple Asset Management LLC bought a new position in Boeing in the 4th quarter valued at $27,000. Fiduciary Advisors Inc. acquired a new stake in shares of Boeing in the 4th quarter valued at $28,000. HighMark Wealth Management LLC raised 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 last quarter. Finally, Anfield Capital Management LLC lifted its stake in shares of Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after acquiring an additional 95 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Benchmark lowered their target price on shares of Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a report on Monday, April 21st. Morgan Stanley increased their target price on Boeing from $175.00 to $185.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. StockNews.com raised Boeing to a "sell" rating in a research note on Thursday, April 24th. Sanford C. Bernstein raised shares of Boeing from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $181.00 to $218.00 in a research note on Monday, April 28th. Finally, Citigroup upped their target price on shares of Boeing from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.90.

Boeing Stock Down 0.2 %

Shares of Boeing stock opened at $186.13 on Wednesday. The stock has a market cap of $140.35 billion, a P/E ratio of -10.16 and a beta of 1.40. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $196.95. The business's 50 day moving average is $165.66 and its 200-day moving average is $166.25.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. The business's revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.13) EPS. On average, sell-side analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insiders Place Their Bets

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

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.

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