Jump Financial LLC Makes New $29.16 Million Investment in The Boeing Company $BA

Key Points

• Jump Financial LLC has made a new investment in Boeing, purchasing 170,950 shares valued at approximately $29.16 million during the first quarter.
• Boeing's stock experienced a 2.4% increase recently, trading at $229.7750, with a market cap of approximately $173.75 billion.
• The company's recent earnings report revealed a loss of ($1.24) earnings per share, which missed analysts' estimates, but revenue increased by 34.9% compared to the previous year.

Jump Financial LLC bought a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 170,950 shares of the aircraft producer's stock, valued at approximately $29,156,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in Boeing by 28.9% during the first quarter. Smartleaf Asset Management LLC now owns 3,611 shares of the aircraft producer's stock valued at $626,000 after purchasing an additional 809 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Boeing by 2.5% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 143,082 shares of the aircraft producer's stock valued at $24,403,000 after purchasing an additional 3,549 shares during the period. Resolute Capital Asset Partners LLC acquired a new position in Boeing during the first quarter valued at $9,380,000. Strategies Wealth Advisors LLC acquired a new position in Boeing during the first quarter valued at $396,000. Finally, Allstate Corp raised its position in shares of Boeing by 4.7% in the first quarter. Allstate Corp now owns 22,629 shares of the aircraft producer's stock worth $3,859,000 after acquiring an additional 1,014 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

Shares of BA stock traded down $3.37 on Monday, reaching $226.75. 4,634,214 shares of the company were exchanged, compared to its average volume of 7,329,001. The company has a market cap of $171.46 billion, a price-to-earnings ratio of -13.73 and a beta of 1.48. The business has a 50-day moving average price of $221.67 and a 200 day moving average price of $194.72. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BA shares. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. TD Securities downgraded shares of Boeing to a "cautious" rating in a research report on Thursday, May 22nd. Jefferies Financial Group upped their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Citigroup reiterated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Finally, The Goldman Sachs Group set a $212.00 price objective on shares of Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and an average target price of $228.90.

Insider Transactions at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the company's 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 purchase, the director owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

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.