Morse Asset Management Inc Invests $2.91 Million in The Boeing Company (NYSE:BA)

Morse Asset Management Inc purchased a new position in shares of The Boeing Company (NYSE:BA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,052 shares of the aircraft producer's stock, valued at approximately $2,908,000.

Other institutional investors have also recently added to or reduced their stakes in the company. 1ST Source Bank grew its position in Boeing by 10.3% in the 1st quarter. 1ST Source Bank now owns 4,908 shares of the aircraft producer's stock worth $837,000 after purchasing an additional 458 shares during the last quarter. Berkeley Capital Partners LLC increased its stake in shares of Boeing by 6.8% during the 1st quarter. Berkeley Capital Partners LLC now owns 1,357 shares of the aircraft producer's stock worth $231,000 after purchasing an additional 86 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its stake in Boeing by 3.7% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 3,407 shares of the aircraft producer's stock valued at $581,000 after buying an additional 121 shares during the last quarter. South Dakota Investment Council boosted its holdings in Boeing by 13.5% in the 1st quarter. South Dakota Investment Council now owns 10,930 shares of the aircraft producer's stock valued at $1,864,000 after purchasing an additional 1,300 shares during the period. Finally, SNS Financial Group LLC raised its position in Boeing by 5.2% in the first quarter. SNS Financial Group LLC now owns 1,414 shares of the aircraft producer's stock worth $241,000 after purchasing an additional 70 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Benchmark lowered their price objective on shares of Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. TD Securities downgraded shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Citigroup boosted their price target on shares of Boeing from $220.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Susquehanna reissued a "positive" rating on shares of Boeing in a research note on Monday, July 14th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Boeing has an average rating of "Moderate Buy" and an average target price of $221.55.

Boeing Trading Up 2.5%

Shares of NYSE:BA traded up $5.82 during midday trading on Wednesday, reaching $234.30. The company had a trading volume of 3,548,660 shares, compared to its average volume of 9,552,536. The company's 50 day moving average price is $210.26 and its 200 day moving average price is $184.87. The stock has a market cap of $176.66 billion, a P/E ratio of -13.06 and a beta of 1.41. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $235.22.

Boeing (NYSE:BA - Get Free Report) last announced its 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 company had revenue of $19.50 billion during the quarter, compared to analysts' expectations of $19.57 billion. During the same period in the prior year, the business earned ($1.13) earnings per share. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. Research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the transaction, the executive vice president owned 42,513 shares of the company's stock, valued at $7,950,356.13. The trade was a 8.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president owned 20,513 shares of the company's stock, valued at $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. Insiders sold 7,744 shares of company stock valued at $1,511,370 in the last quarter. Company insiders own 0.09% of the company's stock.

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.