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

Elevation Point Wealth Partners LLC grew its position in The Boeing Company (NYSE:BA - Free Report) by 50.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,558 shares of the aircraft producer's stock after buying an additional 1,873 shares during the period. Elevation Point Wealth Partners LLC's holdings in Boeing were worth $948,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Boeing by 24.4% during the 4th 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 lifted its position in Boeing by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock valued at $2,677,170,000 after purchasing an additional 3,452,075 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Boeing in the fourth quarter worth approximately $568,000. Alyeska Investment Group L.P. purchased a new stake in Boeing during the 4th quarter valued at $526,889,000. Finally, Zimmer Partners LP purchased a new stake in Boeing during the fourth quarter valued at $393,736,000. Institutional investors own 64.82% of the company's stock.

Boeing Trading Down 1.4%

Shares of NYSE:BA traded down $2.77 during mid-day trading on Wednesday, reaching $197.49. The stock had a trading volume of 5,771,910 shares, compared to its average volume of 9,424,281. The company has a market cap of $148.91 billion, a P/E ratio of -11.02 and a beta of 1.43. The business's 50 day moving average price is $190.97 and its 200 day moving average price is $177.59. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $218.80.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion for 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 firm's revenue was up 17.7% on a year-over-year basis. Analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BA shares. Jefferies Financial Group raised their target price on Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Benchmark cut their target price on shares of Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Royal Bank Of Canada reaffirmed a "cautious" rating on shares of Boeing in a report on Thursday, June 12th. Susquehanna restated a "positive" rating and issued a $240.00 price target (up previously from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Finally, Wall Street Zen lowered shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Four research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $209.85.

Insider Buying and Selling at Boeing

In related news, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president now directly owns 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president now directly owns 20,513 shares in the company, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,744 shares of company stock worth $1,511,370 over the last ninety days. Company insiders own 0.09% of the company's stock.

About Boeing

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.