Elevation Point Wealth Partners LLC Increases Holdings in The Boeing Company (NYSE:BA)

Elevation Point Wealth Partners LLC increased its stake in The Boeing Company (NYSE:BA - Free Report) by 50.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,558 shares of the aircraft producer's stock after purchasing an additional 1,873 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Boeing were worth $948,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BA. Vanguard Group Inc. increased its stake in Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares during the last quarter. Geode Capital Management LLC raised its holdings in Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock valued at $2,677,170,000 after buying an additional 3,452,075 shares during the last quarter. Northern Trust Corp increased its holdings in 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 purchasing an additional 1,634,231 shares during the period. Fisher Asset Management LLC lifted its stake in Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer's stock worth $890,469,000 after acquiring an additional 164,042 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Boeing by 30.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer's stock worth $739,585,000 after purchasing an additional 981,796 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president now directly owns 42,513 shares of the company's stock, valued at $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the transaction, the executive vice president now owns 20,513 shares in the company, valued at $4,161,472.31. This trade represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock valued at $1,511,370 in the last three months. Company insiders own 0.09% of the company's stock.

Boeing Price Performance

Shares of Boeing stock traded up $2.55 during trading hours on Monday, reaching $202.87. The company's stock had a trading volume of 3,212,207 shares, compared to its average volume of 9,399,233. The stock has a market cap of $152.96 billion, a P/E ratio of -11.08 and a beta of 1.43. The Boeing Company has a one year low of $128.88 and a one year high of $218.80. The firm has a 50 day moving average price of $188.93 and a 200-day moving average price of $177.11.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to analysts' expectations of $19.57 billion. During the same period last year, the company earned ($1.13) earnings per share. The business's revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BA shares. Wall Street Zen cut Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Citigroup reissued a "buy" rating on shares of Boeing in a report on Thursday, May 22nd. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Royal Bank of Canada increased their price objective on shares of Boeing from $200.00 to $230.00 and gave the stock an "outperform" rating in a research note on Monday, June 9th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $200.00 price objective on shares of Boeing in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.85.

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.