Denver PWM LLC Acquires 1,200 Shares of The Boeing Company (NYSE:BA)

Key Points

• Denver PWM LLC significantly increased its stake in The Boeing Company by 6,000%, owning a total of 1,220 shares valued at approximately $208,000 as of the latest SEC filing.
• Insider selling activity includes Brendan J. Nelson, who sold 640 shares and David Christopher Raymond, who sold 3,899 shares, indicating a 4.60% and 8.40% decrease in their respective holdings.
• Boeing's stock experienced a recent upgrade from Bank of America, changing its rating from "neutral" to "buy" with a new price target of $260.00.

Denver PWM LLC boosted its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 6,000.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,220 shares of the aircraft producer's stock after purchasing an additional 1,200 shares during the quarter. Denver PWM LLC's holdings in Boeing were worth $208,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of Boeing during the 4th quarter worth about $568,000. Alyeska Investment Group L.P. acquired a new stake in shares of Boeing during the 4th quarter worth about $526,889,000. Zimmer Partners LP acquired a new stake in shares of Boeing during the 4th quarter worth about $393,736,000. Finally, Northern Trust Corp increased 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 worth $1,151,316,000 after purchasing an additional 1,634,231 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Up 0.8%

Shares of NYSE BA traded up $1.75 during midday trading on Friday, reaching $233.02. The company's stock had a trading volume of 4,613,746 shares, compared to its average volume of 7,181,941. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $235.27. The stock has a market capitalization of $175.70 billion, a price-to-earnings ratio of -13.00 and a beta of 1.41. The stock has a 50 day simple moving average of $213.01 and a 200-day simple moving average of $186.85.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. During the same period in the prior year, the business posted ($1.13) earnings per share. Boeing's quarterly revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were 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 directly owned 42,513 shares of the company's stock, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the transaction, the executive vice president directly owned 20,513 shares of the company's stock, valued at $4,161,472.31. This represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on BA shares. Wall Street Zen lowered shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Susquehanna reissued a "positive" rating on shares of Boeing in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on shares of Boeing from $200.00 to $230.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Finally, The Goldman Sachs Group set a $212.00 price objective on shares of Boeing and gave the stock a "buy" rating in a report on Thursday, June 12th. Four analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $221.55.

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.