The Boeing Company $BA Stock Position Cut by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. reduced its holdings in The Boeing Company by 64.5%, selling 1,921,487 shares during the first quarter, leaving them with about 1,055,288 shares.
• In recent transactions, Boeing's Director Mortimer J. Buckley purchased 2,200 shares at $226.10 each, while EVP David Christopher Raymond sold 3,771 shares at $229.94, representing a 9.51% decrease in his holdings.
• Despite recent sales, Boeing's stock has fluctuated significantly, reaching a 52-week high of $242.69 and having an average target price of $228.90 according to equities analysts.

Alyeska Investment Group L.P. trimmed its stake in The Boeing Company (NYSE:BA - Free Report) by 64.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,055,288 shares of the aircraft producer's stock after selling 1,921,487 shares during the quarter. Boeing comprises 0.7% of Alyeska Investment Group L.P.'s portfolio, making the stock its 29th largest position. Alyeska Investment Group L.P. owned about 0.14% of Boeing worth $179,979,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after buying an additional 1,212,327 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Boeing by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock worth $715,979,000 after buying an additional 19,615 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Boeing during the fourth quarter worth approximately $568,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Boeing by 14.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer's stock worth $502,933,000 after buying an additional 369,306 shares during the period. Finally, Zimmer Partners LP purchased a new stake in Boeing during the fourth quarter worth approximately $393,736,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of recent research reports. Barclays boosted their target price on shares of Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Bank of America boosted their target price on shares of Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Susquehanna boosted their target price on shares of Boeing from $265.00 to $270.00 and gave the stock a "positive" rating in a research report on Wednesday, July 30th. Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price on the stock in a research report on Friday, June 27th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 target price on shares of Boeing in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.90.

Boeing Stock Performance

Shares of Boeing stock traded down $1.35 during trading hours on Friday, reaching $229.40. The company's stock had a trading volume of 8,198,359 shares, compared to its average volume of 5,748,445. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The company's 50 day simple moving average is $227.54 and its 200 day simple moving average is $197.76. The stock has a market cap of $173.47 billion, a P/E ratio of -13.89 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analysts' expectations 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 quarter last year, the business posted ($2.90) EPS. On average, sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the sale, the executive vice president 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the transaction, the director directly owned 2,200 shares of the company's stock, valued at approximately $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

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.