The Boeing Company (NYSE:BA) Stock Position Increased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its ownership in The Boeing Company by 17.7%, holding a total of 69,088 shares valued at approximately $11.78 million.
• Several other institutional investors have also adjusted their positions in Boeing, with hedge funds owning 64.82% of the company's stock.
• Analysts have shown positive sentiment towards Boeing, with upgrades leading to a consensus price target of $229.18 and a mix of buy and hold ratings.

Mackenzie Financial Corp raised its holdings in The Boeing Company (NYSE:BA - Free Report) by 17.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,088 shares of the aircraft producer's stock after purchasing an additional 10,387 shares during the period. Mackenzie Financial Corp's holdings in Boeing were worth $11,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Northern Trust Corp increased its position in Boeing by 33.6% during the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock worth $1,151,316,000 after purchasing an additional 1,634,231 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Boeing during the fourth quarter worth approximately $568,000. Alyeska Investment Group L.P. acquired a new position in Boeing during the fourth quarter worth approximately $526,889,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Boeing by 14.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer's stock worth $502,933,000 after purchasing an additional 369,306 shares during the last quarter. Finally, Zimmer Partners LP acquired a new position in Boeing during the fourth quarter worth approximately $393,736,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Trading Up 0.0%

BA stock traded up $0.10 during mid-day trading on Friday, hitting $221.94. 8,556,620 shares of the company were exchanged, compared to its average volume of 7,665,790. The company has a market capitalization of $167.82 billion, a PE ratio of -13.44 and a beta of 1.48. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The firm has a fifty day simple moving average of $215.23 and a 200 day simple moving average of $188.67.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (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 the consensus estimate of $20.13 billion. During the same quarter in the prior year, the firm posted ($2.90) EPS. The business's revenue was up 34.9% on a year-over-year basis. As a group, sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the transaction, the executive vice president owned 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

BA has been the subject of several recent research reports. UBS Group set a $280.00 price objective on shares of Boeing and gave the stock a "buy" rating in a research report on Wednesday. Barclays increased their price objective on shares of Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday. Cowen reissued a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $228.90.

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.