Entropy Technologies LP Increases Position in The Boeing Company (NYSE:BA)

Key Points

• Entropy Technologies LP increased its stake in The Boeing Company by 176.6%, acquiring an additional 27,746 shares during the 1st quarter, bringing its total holdings to 43,459 shares valued at approximately $7.41 million.
• Several other investors also made significant changes to their Boeing positions, with institutional ownership now accounting for 64.82% of the stock.
• Boeing's share price performance has been noted, with recent earnings report showing a 34.9% increase in revenue year-over-year, despite reporting a loss of ($1.24) EPS missing analyst expectations.

Entropy Technologies LP boosted its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 176.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,459 shares of the aircraft producer's stock after purchasing an additional 27,746 shares during the period. Boeing comprises approximately 0.7% of Entropy Technologies LP's investment portfolio, making the stock its 21st biggest position. Entropy Technologies LP's holdings in Boeing were worth $7,412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new position in shares of Boeing in the 4th quarter valued at $568,000. Alyeska Investment Group L.P. acquired a new stake in Boeing in the fourth quarter valued at $526,889,000. Zimmer Partners LP acquired a new stake in Boeing in the fourth quarter valued at $393,736,000. Northern Trust Corp increased its holdings in Boeing by 33.6% in the fourth 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. Finally, Sculptor Capital LP acquired a new stake in Boeing in the fourth quarter valued at $265,500,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Trading Down 1.4%

BA traded down $3.11 during midday trading on Monday, reaching $226.01. The company's stock had a trading volume of 4,866,944 shares, compared to its average volume of 7,248,547. The firm has a market capitalization of $170.90 billion, a price-to-earnings ratio of -13.69 and a beta of 1.48. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock's 50-day moving average is $217.39 and its 200-day moving average is $190.77.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. The business's quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.90) EPS. As a group, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction that occurred on 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 owned 13,258 shares in the company, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BA has been the subject of a number of recent research reports. Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective for the company in a report on Friday, June 27th. Bank of America increased their price objective on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Royal Bank Of Canada reiterated an "outperform" rating and set a $250.00 price target on shares of Boeing in a report on Wednesday, July 30th. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, TD Securities downgraded Boeing to a "cautious" rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and an average target price of $228.90.

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.