MFG Wealth Management Inc. bought a new stake in The Boeing Company (NYSE:BA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,461 shares of the aircraft producer's stock, valued at approximately $2,125,000. Boeing accounts for 2.0% of MFG Wealth Management Inc.'s investment portfolio, making the stock its 21st biggest holding.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Revolve Wealth Partners LLC purchased a new stake in shares of Boeing during the 4th quarter worth approximately $201,000. Bank Pictet & Cie Europe AG acquired a new position in shares of Boeing during the 4th quarter worth $7,837,000. Union Bancaire Privee UBP SA acquired a new stake in Boeing in the 4th quarter valued at about $126,000. BankPlus Trust Department purchased a new position in Boeing in the 4th quarter valued at about $35,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Boeing by 17.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,921,417 shares of the aircraft producer's stock worth $694,091,000 after acquiring an additional 581,987 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the transaction, the executive vice president now directly owns 20,513 shares in the company, valued at $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president now owns 13,258 shares of the company's stock, valued at $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock worth $1,511,370 in the last 90 days. Company insiders own 0.09% of the company's stock.
Boeing Trading Up 5.9%
Shares of NYSE:BA traded up $11.98 during trading on Friday, hitting $214.56. 14,787,018 shares of the company's stock traded hands, compared to its average volume of 9,457,970. The company has a market cap of $161.78 billion, a price-to-earnings ratio of -11.97 and a beta of 1.43. The company has a 50-day moving average price of $197.85 and a 200-day moving average price of $179.88. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80.
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 (EPS) for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the prior year, the company earned ($1.13) EPS. The company's revenue for the quarter was up 17.7% on a year-over-year basis. On average, analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Cowen restated a "buy" rating on shares of Boeing in a report on Wednesday, May 7th. Melius raised shares of Boeing from a "hold" rating to a "buy" rating in a report on Monday, March 24th. UBS Group lifted their price objective on shares of Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Finally, Citigroup reaffirmed a "buy" rating on shares of Boeing in a report on Thursday, May 22nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $215.77.
Check Out Our Latest Stock Report on BA
About Boeing
(
Free Report)
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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