Driehaus Capital Management LLC Acquires New Stake in The Boeing Company (NYSE:BA)

Driehaus Capital Management LLC acquired a new stake in The Boeing Company (NYSE:BA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,699 shares of the aircraft producer's stock, valued at approximately $655,000.

Several other hedge funds also recently modified their holdings of the business. Sierra Ocean LLC acquired a new position in Boeing during the fourth quarter worth $26,000. Sugar Maple Asset Management LLC acquired a new position in Boeing during the fourth quarter worth $27,000. Fiduciary Advisors Inc. acquired a new position in Boeing during the fourth quarter worth $28,000. HighMark Wealth Management LLC raised its stake in 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 in the last quarter. Finally, Anfield Capital Management LLC raised its stake in Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after acquiring an additional 95 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Insider Activity at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the business'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 completion of the sale, the executive vice president now directly owns 19,213 shares of the company's stock, valued at approximately $3,471,596.97. The trade was a 14.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BA has been the topic of several research analyst reports. Melius upgraded Boeing from a "hold" rating to a "buy" rating in a report on Monday, March 24th. Morgan Stanley raised their price target on Boeing from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. StockNews.com raised Boeing from a "sell" rating to a "hold" rating in a research report on Friday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, April 23rd. Finally, Susquehanna increased their price objective on shares of Boeing from $200.00 to $205.00 and gave the company a "positive" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $201.85.

Boeing Stock Performance

Shares of NYSE BA traded up $3.55 during trading hours on Monday, hitting $198.40. 9,332,597 shares of the stock were exchanged, compared to its average volume of 9,098,791. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $203.62. The company has a market cap of $149.59 billion, a PE ratio of -10.83 and a beta of 1.41. The company's fifty day simple moving average is $167.01 and its two-hundred day simple moving average is $166.99.

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

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.