Lederer & Associates Investment Counsel CA Makes New Investment in The Boeing Company (NYSE:BA)

Lederer & Associates Investment Counsel CA purchased a new stake in The Boeing Company (NYSE:BA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,947 shares of the aircraft producer's stock, valued at approximately $673,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Boeing by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares during the period. Geode Capital Management LLC raised its stake in Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock valued at $2,677,170,000 after acquiring an additional 3,452,075 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in Boeing in the 4th quarter valued at about $568,000. Alyeska Investment Group L.P. bought a new stake in Boeing in the 4th quarter valued at about $526,889,000. Finally, Zimmer Partners LP bought a new stake in Boeing in the 4th quarter valued at about $393,736,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

BA traded down $1.12 during midday trading on Friday, hitting $207.06. The stock had a trading volume of 7,476,210 shares, compared to its average volume of 9,236,131. The company has a market cap of $156.12 billion, a P/E ratio of -11.30 and a beta of 1.41. The business has a fifty day moving average of $178.83 and a 200 day moving average of $172.45. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $212.28.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analysts' expectations of $19.57 billion. The business's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the company posted ($1.13) EPS. On average, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent analyst reports. Benchmark reduced their target price on Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a report on Monday, April 21st. Cowen reaffirmed a "buy" rating on shares of Boeing in a report on Wednesday, May 7th. TD Securities lowered Boeing to a "cautious" rating in a report on Thursday, May 22nd. Sanford C. Bernstein raised Boeing from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $181.00 to $218.00 in a report on Monday, April 28th. Finally, Melius raised Boeing from a "hold" rating to a "buy" rating in a report on Monday, March 24th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.35.

Insider Activity

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction that occurred on 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 owns 20,513 shares in the company, valued at $4,161,472.31. This 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 this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the company's stock in a transaction that occurred on 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 owns 42,513 shares of the company's stock, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by company insiders.

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.