MetLife Investment Management LLC Cuts Stake in The Boeing Company $BA

Key Points

• MetLife Investment Management LLC has reduced its stake in Boeing by 1.1%, holding 200,127 shares worth approximately $34.13 million as of the latest SEC filing.
• Multiple institutional investors acquired new stakes in Boeing during the fourth quarter, with ownership by institutional investors and hedge funds now totaling 64.82% of the stock.
• Analysts largely remain positive on Boeing, with several firms upgrading their price targets, and the stock currently holds a consensus rating of "Moderate Buy" among research analysts.

MetLife Investment Management LLC cut its position in shares of The Boeing Company (NYSE:BA - Free Report) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 200,127 shares of the aircraft producer's stock after selling 2,154 shares during the period. MetLife Investment Management LLC's holdings in Boeing were worth $34,132,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BA. Castlekeep Investment Advisors LLC purchased a new position in shares of Boeing during the 4th quarter worth about $568,000. Alyeska Investment Group L.P. bought a new stake in Boeing during the 4th quarter valued at about $526,889,000. Zimmer Partners LP bought a new stake in Boeing during the 4th quarter valued at about $393,736,000. Northern Trust Corp lifted its holdings in Boeing by 33.6% during the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock valued at $1,151,316,000 after buying an additional 1,634,231 shares in the last quarter. Finally, Sculptor Capital LP bought a new stake in Boeing during the 4th quarter valued at about $265,500,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup restated a "buy" rating on shares of Boeing in a report on Monday, July 28th. Barclays upped their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a "buy" rating in a report on Thursday, June 12th. Royal Bank Of Canada restated an "outperform" rating and set a $250.00 price objective on shares of Boeing in a research report on Wednesday, July 30th. Finally, Bank of America upped their price objective on shares of Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $228.90.

Boeing Trading Up 0.3%

BA stock traded up $0.64 during trading on Thursday, reaching $236.26. 4,033,799 shares of the stock were exchanged, compared to its average volume of 8,322,122. The business has a 50 day moving average price of $223.12 and a 200-day moving average price of $195.28. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm has a market capitalization of $178.65 billion, a price-to-earnings ratio of -14.31 and a beta of 1.48.

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

Insider Buying and Selling

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the transaction, the director directly owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

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.