Plan Group Financial LLC Makes New Investment in The Boeing Company (NYSE:BA)

Key Points

• Plan Group Financial LLC acquired a new position in The Boeing Company, purchasing 1,474 shares valued at approximately $251,000 in the first quarter.
• Insiders at Boeing have recently sold significant shares, with SVP Brendan J. Nelson selling 640 shares for over $132,000, indicating a decrease in their ownership percentage.
• Analysts have mixed reviews on Boeing, with a consensus price target of $228.90 and ratings ranging from "sell" to "strong buy," reflecting divided market sentiment.

Plan Group Financial LLC bought a new position in The Boeing Company (NYSE:BA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,474 shares of the aircraft producer's stock, valued at approximately $251,000.

A number of other institutional investors have also added to or reduced their stakes in BA. Castlekeep Investment Advisors LLC bought a new position in Boeing during the 4th quarter worth approximately $568,000. Alyeska Investment Group L.P. purchased a new stake in shares of Boeing during the fourth quarter valued at approximately $526,889,000. Zimmer Partners LP bought a new position in shares of Boeing in the fourth quarter worth approximately $393,736,000. Northern Trust Corp grew its holdings in Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock worth $1,151,316,000 after acquiring an additional 1,634,231 shares during the last quarter. Finally, Sculptor Capital LP bought a new stake in shares of Boeing in the fourth quarter worth about $265,500,000. Institutional investors own 64.82% of the company's stock.

Insider Activity

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president directly owned 20,513 shares of the company's stock, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brendan J. Nelson sold 640 shares of the company'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 completion of the sale, the senior vice president owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 price objective on shares of Boeing in a research report on Wednesday, July 30th. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Barclays increased their target price on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Morgan Stanley reaffirmed an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Boeing has a consensus rating of "Moderate Buy" and an average target price of $228.90.

Boeing Stock Performance

Shares of BA stock traded up $2.28 during trading hours on Thursday, reaching $227.32. The company had a trading volume of 4,538,661 shares, compared to its average volume of 7,421,608. The business has a fifty day moving average price of $216.56 and a 200-day moving average price of $189.82. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The firm has a market cap of $171.89 billion, a PE ratio of -13.77 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. During the same period in the previous year, the company posted ($2.90) EPS. The company's revenue was up 34.9% on a year-over-year basis. Equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current 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.