Burgundy Asset Management Ltd. Grows Position in The Boeing Company (NYSE:BA)

Burgundy Asset Management Ltd. increased its holdings in The Boeing Company (NYSE:BA - Free Report) by 70.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,000 shares of the aircraft producer's stock after acquiring an additional 35,000 shares during the quarter. Burgundy Asset Management Ltd.'s holdings in Boeing were worth $15,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vise Technologies Inc. lifted its stake in Boeing by 97.5% in the fourth quarter. Vise Technologies Inc. now owns 5,237 shares of the aircraft producer's stock worth $927,000 after acquiring an additional 2,585 shares during the period. Retirement Planning Group LLC purchased a new stake in Boeing in the fourth quarter worth $219,000. Cornerstone Advisory LLC lifted its stake in Boeing by 15.4% in the fourth quarter. Cornerstone Advisory LLC now owns 2,831 shares of the aircraft producer's stock worth $522,000 after acquiring an additional 378 shares during the period. Inspire Trust Co. N.A. lifted its stake in Boeing by 28.6% in the fourth quarter. Inspire Trust Co. N.A. now owns 13,500 shares of the aircraft producer's stock worth $2,390,000 after acquiring an additional 3,000 shares during the period. Finally, Harmony Asset Management LLC lifted its stake in Boeing by 75.5% in the fourth quarter. Harmony Asset Management LLC now owns 3,758 shares of the aircraft producer's stock worth $665,000 after acquiring an additional 1,617 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BA. 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. Sanford C. Bernstein raised Boeing from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $181.00 to $218.00 in a research report on Monday, April 28th. JPMorgan Chase & Co. raised their price objective on Boeing from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Wall Street Zen lowered Boeing from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. Finally, Susquehanna reissued a "positive" rating and set a $240.00 price objective (up previously from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.35.

Insiders Place Their Bets

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president now owns 13,258 shares of the company's stock, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the transaction, the executive vice president now directly owns 42,513 shares of the company's stock, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is owned by insiders.

Boeing Price Performance

Shares of NYSE:BA opened at $203.39 on Friday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $209.66. The business has a fifty day moving average price of $175.36 and a 200-day moving average price of $169.97. The company has a market capitalization of $153.36 billion, a PE ratio of -11.10 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data 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 business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the previous year, the business posted ($1.13) earnings per share. Boeing's quarterly revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Boeing 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.

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