The Boeing Company $BA Shares Acquired by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its ownership in The Boeing Company by 29.5% during Q1, acquiring an additional 291,639 shares and totaling 1,280,715 shares valued at approximately $218.4 million.
• Boeing's shares had a strong market performance with a 1-year price range from $128.88 to $242.69, currently trading at around $232.33.
• Wall Street analysts maintain a mostly positive outlook on Boeing, with three analysts rating it as a Strong Buy and an average price target of $228.90.

Alliancebernstein L.P. increased its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 29.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,280,715 shares of the aircraft producer's stock after purchasing an additional 291,639 shares during the quarter. Alliancebernstein L.P. owned 0.17% of Boeing worth $218,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AQR Capital Management LLC increased its position in shares of Boeing by 522.5% during the 1st quarter. AQR Capital Management LLC now owns 69,170 shares of the aircraft producer's stock worth $11,797,000 after purchasing an additional 58,059 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Boeing by 0.7% during the 1st quarter. Advisors Asset Management Inc. now owns 14,275 shares of the aircraft producer's stock worth $2,435,000 after purchasing an additional 101 shares during the last quarter. Aprio Wealth Management LLC acquired a new stake in shares of Boeing during the 1st quarter worth about $219,000. Adage Capital Partners GP L.L.C. increased its position in shares of Boeing by 36.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 838,222 shares of the aircraft producer's stock worth $142,959,000 after purchasing an additional 222,935 shares during the last quarter. Finally, Promethium Advisors LLC increased its position in shares of Boeing by 178.2% during the 1st quarter. Promethium Advisors LLC now owns 4,605 shares of the aircraft producer's stock worth $785,000 after purchasing an additional 2,950 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price objective on Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Barclays raised their target price on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating and set a $250.00 target price on shares of Boeing in a report on Wednesday, July 30th. Finally, Bank of America raised their target price on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Boeing has an average rating of "Moderate Buy" and a consensus target price of $230.77.

Insider Activity at Boeing

In other Boeing news, Director Mortimer J. Buckley bought 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Boeing Stock Performance

Shares of BA traded up $1.28 during midday trading on Monday, hitting $230.89. The company had a trading volume of 5,950,006 shares, compared to its average volume of 8,237,565. The company's 50-day simple moving average is $227.54 and its 200-day simple moving average is $197.88. The firm has a market capitalization of $174.59 billion, a P/E ratio of -13.99 and a beta of 1.48. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69.

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