Novem Group Acquires Shares of 4,847 The Boeing Company (NYSE:BA)

Novem Group purchased a new stake in The Boeing Company (NYSE:BA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,847 shares of the aircraft producer's stock, valued at approximately $858,000.

Other hedge funds have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Boeing by 43.0% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 139,533 shares of the aircraft producer's stock valued at $24,697,000 after buying an additional 41,970 shares during the last quarter. Elequin Capital LP bought a new position in Boeing during the fourth quarter valued at approximately $134,000. First Heartland Consultants Inc. lifted its stake in Boeing by 1.6% in the fourth quarter. First Heartland Consultants Inc. now owns 5,332 shares of the aircraft producer's stock valued at $944,000 after acquiring an additional 82 shares during the last quarter. Vanguard Capital Wealth Advisors grew its position in Boeing by 34.3% in the fourth quarter. Vanguard Capital Wealth Advisors now owns 10,292 shares of the aircraft producer's stock worth $1,822,000 after acquiring an additional 2,627 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Boeing by 14.9% during the 4th 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. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insider Buying and Selling at Boeing

In other news, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were 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 now directly owns 20,513 shares of the company's stock, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president now directly owns 13,258 shares of the company's stock, valued at $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock valued at $1,511,370 in the last ninety days. Company insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. UBS Group increased their price target on shares of Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Citigroup restated a "buy" rating on shares of Boeing in a research note on Thursday. Sanford C. Bernstein upgraded shares of Boeing from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $181.00 to $218.00 in a research note on Monday, April 28th. TD Securities lowered shares of Boeing to a "cautious" rating in a research note on Thursday. Finally, Wall Street Zen lowered shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $204.35.

Boeing Stock Down 0.5%

Boeing stock traded down $0.92 during mid-day trading on Friday, reaching $202.49. The company had a trading volume of 5,248,351 shares, compared to its average volume of 9,170,977. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $209.66. The company has a 50 day moving average of $176.17 and a 200-day moving average of $170.33. The firm has a market cap of $152.68 billion, a price-to-earnings ratio of -11.05 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last issued 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 company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. During the same period last year, the company earned ($1.13) earnings per share. Boeing's revenue for the quarter was up 17.7% on a year-over-year basis. On average, analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.