Chicago Capital LLC Buys 2,415 Shares of The Boeing Company $BA

Key Points

• Chicago Capital LLC increased its stake in Boeing by 25.3%, acquiring an additional 2,415 shares, bringing its total holdings to 11,946 shares valued at approximately $2.5 million.
• Multiple hedge funds also expanded their positions in Boeing, with Vanguard Group owning over 65 million shares valued at around $11.2 billion.
• Analysts have set a favorable outlook on Boeing, with UBS Group targeting a price of $280 and a consensus average rating of "Moderate Buy."

Chicago Capital LLC lifted its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 25.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,946 shares of the aircraft producer's stock after acquiring an additional 2,415 shares during the quarter. Chicago Capital LLC's holdings in Boeing were worth $2,503,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Boeing by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock valued at $715,979,000 after acquiring an additional 19,615 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Boeing by 3.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer's stock valued at $500,247,000 after acquiring an additional 91,707 shares during the period. Swiss National Bank grew its stake in shares of Boeing by 2.5% during the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer's stock valued at $359,895,000 after acquiring an additional 51,700 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Boeing by 3.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer's stock worth $335,770,000 after purchasing an additional 69,560 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group set a $280.00 price target on Boeing and gave the stock a "buy" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a research note on Friday, June 27th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $230.77.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of the firm's 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 trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a 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 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 transaction, the director owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Boeing Stock Performance

NYSE BA opened at $217.23 on Tuesday. The company has a market capitalization of $164.26 billion, a P/E ratio of -13.16 and a beta of 1.48. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The stock has a 50 day moving average price of $226.29 and a 200-day moving average price of $203.84.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) 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 the consensus estimate of $20.13 billion. The firm's revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.90) EPS. As a group, equities analysts predict that The Boeing Company will post -2.58 EPS 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.

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