Adage Capital Partners GP L.L.C. Has $142.96 Million Position in The Boeing Company $BA

Key Points

• Adage Capital Partners GP L.L.C. boosted its holdings in Boeing by 36.2%, owning a total of 838,222 shares worth approximately $142.96 million after purchasing an additional 222,935 shares.
• Institutional investors currently own 64.82% of Boeing's stock, with notable increases in ownership from firms like National Pension Service and KKM Financial LLC during the first quarter.
• Boeing's stock is rated a "Moderate Buy" by analysts with an average target price of $228.90, despite recent earnings missing expectations and a varied analyst outlook.

Adage Capital Partners GP L.L.C. increased its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 36.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 838,222 shares of the aircraft producer's stock after acquiring an additional 222,935 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.11% of Boeing worth $142,959,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. American National Bank & Trust increased its holdings 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 acquiring an additional 128 shares during the last quarter. REAP Financial Group LLC increased its holdings in shares of Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after acquiring an additional 65 shares during the last quarter. Dogwood Wealth Management LLC boosted its holdings in shares of Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after acquiring an additional 112 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Boeing during the fourth quarter worth approximately $33,000. Finally, Proathlete Wealth Management LLC bought a new stake in shares of Boeing in the first quarter valued at approximately $34,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BA has been the subject of several recent research reports. Citigroup reiterated a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Susquehanna boosted their price target on Boeing from $265.00 to $270.00 and gave the company a "positive" rating in a research note on Wednesday, July 30th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and boosted their price target for the company from $180.00 to $275.00 in a research note on Friday, June 27th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company reiterated an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and an average target price of $228.90.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares of the company's stock, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Boeing Trading Down 0.6%

NYSE BA traded down $1.35 on Friday, hitting $229.40. 8,198,359 shares of the company's stock were exchanged, compared to its average volume of 5,748,445. The stock has a market cap of $173.46 billion, a price-to-earnings ratio of -13.89 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 50-day moving average of $227.54 and a 200-day moving average of $197.69.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the firm earned ($2.90) EPS. As a group, analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

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.