Zions Bancorporation National Association UT Acquires New Stake in The Boeing Company (NYSE:BA)

Key Points

• Zions Bancorporation National Association UT acquired 4,498 shares of The Boeing Company, valued at approximately $767,000, marking its entry into Boeing's investor landscape.
• Several hedge funds significantly increased their stakes in Boeing, with American National Bank & Trust growing by 474.1%, showcasing heightened institutional interest in the stock.
• Boeing's most recent quarterly earnings report revealed a loss of ($1.24) earnings per share, missing estimates, despite a significant revenue increase of 34.9% compared to the previous year.

Zions Bancorporation National Association UT purchased a new position in The Boeing Company (NYSE:BA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,498 shares of the aircraft producer's stock, valued at approximately $767,000.

Other large investors also recently bought and sold shares of the company. American National Bank & Trust raised its position in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after purchasing an additional 128 shares during the last quarter. REAP Financial Group LLC raised its position in Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after purchasing an additional 65 shares during the period. Dogwood Wealth Management LLC raised its position in Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 112 shares during the period. Heck Capital Advisors LLC purchased a new position in Boeing in the 4th quarter valued at about $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Boeing by 122.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 191 shares of the aircraft producer's stock valued at $34,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Insider Activity at Boeing

In other news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the sale, the executive vice president owned 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the transaction, the senior vice president directly owned 13,258 shares of the company's stock, valued at approximately $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. 0.09% of the stock is owned by corporate insiders.

Boeing Trading Down 1.4%

Shares of BA traded down $3.11 during trading hours on Monday, reaching $226.01. 4,866,944 shares of the stock traded hands, compared to its average volume of 7,248,547. The company has a market cap of $170.90 billion, a price-to-earnings ratio of -13.69 and a beta of 1.48. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The stock has a fifty day simple moving average of $217.39 and a 200 day simple moving average of $190.77.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the prior year, the company earned ($2.90) EPS. The firm's revenue was up 34.9% compared to the same quarter last year. Analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. TD Securities downgraded shares of Boeing to a "cautious" rating in a research report on Thursday, May 22nd. Citigroup restated a "buy" rating on shares of Boeing in a report on Monday, July 28th. Barclays lifted their target price on shares of Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Finally, Susquehanna lifted their target price on shares of Boeing from $265.00 to $270.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.90.

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.