Zimmer Partners LP Makes New $393.74 Million Investment in The Boeing Company (NYSE:BA)

Zimmer Partners LP acquired a new position in shares of The Boeing Company (NYSE:BA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,224,500 shares of the aircraft producer's stock, valued at approximately $393,736,000. Boeing comprises 6.8% of Zimmer Partners LP's holdings, making the stock its 2nd largest position. Zimmer Partners LP owned about 0.30% of Boeing at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Amundi increased its position in Boeing by 473.6% during the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer's stock worth $268,862,000 after buying an additional 1,292,417 shares during the last quarter. KKM Financial LLC increased its holdings in shares of Boeing by 50.8% in the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock valued at $2,720,000 after purchasing an additional 5,175 shares during the last quarter. Grant Private Wealth Management Inc bought a new position in shares of Boeing in the fourth quarter valued at about $903,000. Tandem Capital Management Corp ADV boosted its holdings in shares of Boeing by 65.2% during the 4th quarter. Tandem Capital Management Corp ADV now owns 13,815 shares of the aircraft producer's stock worth $2,445,000 after buying an additional 5,451 shares during the period. Finally, Winslow Asset Management Inc. grew its stake in Boeing by 8.2% in the 4th quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer's stock valued at $7,215,000 after buying an additional 3,096 shares during the last quarter. Institutional investors own 64.82% of the company's stock.

Boeing Price Performance

Shares of BA stock traded up $0.18 on Thursday, reaching $203.39. 3,629,160 shares of the company were exchanged, compared to its average volume of 9,196,764. The company has a 50-day moving average of $174.53 and a 200-day moving average of $169.64. The company has a market cap of $153.36 billion, a price-to-earnings ratio of -11.10 and a beta of 1.41. The Boeing Company has a one year low of $128.88 and a one year high of $209.66.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data 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. During the same period last year, the business posted ($1.13) EPS. The company's revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wall Street Zen cut Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Benchmark reduced their price target on Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Cowen reiterated a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. Sanford C. Bernstein upgraded shares of Boeing from a "market perform" rating to an "outperform" rating and upped their price target for the company from $181.00 to $218.00 in a research note on Monday, April 28th. Finally, Citigroup reiterated a "buy" rating on shares of Boeing in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $204.35.

Insiders Place Their Bets

In other news, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president now owns 20,513 shares in the company, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,744 shares of company stock worth $1,511,370. Insiders own 0.09% of the company's stock.

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.