BI Asset Management Fondsmaeglerselskab A S Has $4.32 Million Holdings in The Boeing Company $BA

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Boeing by 13.1%, selling 3,810 shares and holding a total of 25,327 shares valued at approximately $4.32 million.
• Analysts are optimistic about Boeing's future, with several investment firms raising their price targets; the consensus rating for the stock is "Moderate Buy" with an average price target of $228.90.
• Boeing reported disappointing earnings for the last quarter, with an EPS of ($1.24), falling short of expectations, although revenue increased by 34.9% year-over-year.

BI Asset Management Fondsmaeglerselskab A S reduced its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,327 shares of the aircraft producer's stock after selling 3,810 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Boeing were worth $4,320,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BA. Castlekeep Investment Advisors LLC acquired a new stake in Boeing during the fourth quarter worth about $568,000. Alyeska Investment Group L.P. bought a new position in Boeing in the fourth quarter worth $526,889,000. Zimmer Partners LP acquired a new position in shares of Boeing in the 4th quarter valued at $393,736,000. Northern Trust Corp boosted its position in shares of Boeing by 33.6% during the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock valued at $1,151,316,000 after acquiring an additional 1,634,231 shares in the last quarter. Finally, Sculptor Capital LP acquired a new stake in shares of Boeing during the 4th quarter valued at about $265,500,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on BA. Royal Bank Of Canada reissued an "outperform" rating and issued a $250.00 price target on shares of Boeing in a research report on Wednesday, July 30th. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price for the company in a report on Friday, June 27th. Barclays raised their target price on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Finally, Susquehanna lifted their price objective on Boeing from $265.00 to $270.00 and gave the company a "positive" rating in a report on Wednesday, July 30th. Three 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $228.90.

Boeing Stock Performance

Boeing stock traded up $5.3150 on Friday, reaching $229.7750. The company's stock had a trading volume of 8,672,974 shares, compared to its average volume of 7,126,503. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The business's fifty day moving average price is $221.17 and its 200 day moving average price is $194.34. The company has a market cap of $173.75 billion, a price-to-earnings ratio of -13.92 and a beta of 1.48.

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 the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. During the same period in the previous year, the firm earned ($2.90) EPS. The company's quarterly revenue was up 34.9% on a year-over-year basis. As a group, equities analysts forecast 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.