Leelyn Smith LLC raised its position in shares of The Boeing Company (NYSE:BA - Free Report) by 7.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,530 shares of the aircraft producer's stock after purchasing an additional 1,561 shares during the period. Leelyn Smith LLC's holdings in Boeing were worth $3,842,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BA. Vanguard Group Inc. grew its holdings in Boeing by 24.4% in 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 buying an additional 12,641,715 shares during the last quarter. Geode Capital Management LLC grew its holdings in Boeing by 29.5% in 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. Castlekeep Investment Advisors LLC acquired a new stake in Boeing in the 4th quarter valued at approximately $568,000. Alyeska Investment Group L.P. acquired a new stake in Boeing in the 4th quarter valued at approximately $526,889,000. Finally, Zimmer Partners LP acquired a new stake in shares of Boeing during the 4th quarter worth approximately $393,736,000. 64.82% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have recently weighed in on BA shares. Jefferies Financial Group lifted their price objective on Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Wall Street Zen lowered Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective on the stock in a report on Friday, June 27th. Finally, TD Securities downgraded Boeing to a "cautious" rating in a research report on Thursday, May 22nd. Four analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $221.55.
Read Our Latest Stock Report on BA
Boeing Trading Down 0.3%
Shares of Boeing stock traded down $0.75 during trading on Thursday, reaching $229.15. The stock had a trading volume of 2,377,283 shares, compared to its average volume of 9,535,061. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $233.61. The company has a market capitalization of $172.78 billion, a price-to-earnings ratio of -12.80 and a beta of 1.41. The stock has a fifty day moving average price of $208.78 and a two-hundred day moving average price of $183.99.
Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. The firm's revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company posted ($1.13) EPS. On average, equities analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.
Insider Activity
In other news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 42,513 shares in the company, valued at $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is owned by insiders.
About Boeing
(
Free Report)
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.
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