Tang Capital Management LLC Makes New Investment in The Boeing Company (NYSE:BA)

Tang Capital Management LLC purchased a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 6,294 shares of the aircraft producer's stock, valued at approximately $1,114,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in shares of Boeing by 68.7% during the 4th quarter. Toronto Dominion Bank now owns 450,273 shares of the aircraft producer's stock valued at $79,698,000 after acquiring an additional 183,405 shares during the last quarter. Steadfast Capital Management LP acquired a new stake in shares of Boeing during the 4th quarter valued at $6,868,000. Suvretta Capital Management LLC acquired a new stake in shares of Boeing during the 4th quarter valued at $27,470,000. Safeguard Investment Advisory Group LLC lifted its position in shares of Boeing by 4.3% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 4,069 shares of the aircraft producer's stock valued at $720,000 after acquiring an additional 167 shares during the last quarter. Finally, Sandia Investment Management LP purchased a new stake in shares of Boeing in the fourth quarter valued at $620,000. 64.82% of the stock is owned by institutional investors.

Insider Activity at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction 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 directly owns 13,258 shares in the company, valued at $2,734,860.24. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Uma M. Amuluru sold 3,159 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This represents a 14.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,903 shares of company stock valued at $2,082,169 in the last three months. Corporate insiders own 0.09% of the company's stock.

Boeing Stock Up 1.1%

Shares of BA stock traded up $2.23 during mid-day trading on Tuesday, reaching $207.48. The stock had a trading volume of 5,856,866 shares, compared to its average volume of 9,209,947. The firm has a market cap of $156.44 billion, a PE ratio of -11.33 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. The firm's 50 day simple moving average is $172.73 and its 200 day simple moving average is $169.14.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping the consensus estimate 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. Boeing's quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business earned ($1.13) EPS. Sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BA shares. StockNews.com lowered Boeing from a "hold" rating to a "sell" rating in a report on Saturday. Citigroup increased their target price on Boeing from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Benchmark dropped their price target on shares of Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. UBS Group upped their price target on shares of Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $204.35.

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.