The Boeing Company (NYSE:BA) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 16.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,319 shares of the aircraft producer's stock after buying an additional 1,833 shares during the period. Park Avenue Securities LLC's holdings in Boeing were worth $2,272,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. OLD National Bancorp IN boosted its holdings in Boeing by 7.0% during the first quarter. OLD National Bancorp IN now owns 6,932 shares of the aircraft producer's stock worth $1,182,000 after buying an additional 454 shares in the last quarter. Wynn Capital LLC acquired a new stake in shares of Boeing during the 1st quarter valued at approximately $584,000. KMG Fiduciary Partners LLC boosted its stake in shares of Boeing by 310.9% during the 1st quarter. KMG Fiduciary Partners LLC now owns 14,501 shares of the aircraft producer's stock worth $2,473,000 after acquiring an additional 10,972 shares in the last quarter. Miracle Mile Advisors LLC grew its holdings in shares of Boeing by 2.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 26,927 shares of the aircraft producer's stock worth $4,592,000 after acquiring an additional 665 shares during the period. Finally, RDA Financial Network increased its stake in Boeing by 4.7% in the 1st quarter. RDA Financial Network now owns 2,104 shares of the aircraft producer's stock valued at $359,000 after purchasing an additional 95 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on BA. Sanford C. Bernstein upgraded Boeing from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $181.00 to $218.00 in a research report on Monday, April 28th. Benchmark decreased their price objective on shares of Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Melius upgraded shares of Boeing from a "hold" rating to a "buy" rating in a report on Monday, March 24th. Citigroup reaffirmed a "buy" rating on shares of Boeing in a report on Thursday, May 22nd. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Boeing in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $209.35.

Insiders Place Their Bets

In related news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president now owns 13,258 shares in the company, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the executive vice president now directly owns 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. Insiders sold 7,744 shares of company stock worth $1,511,370 over the last three months. 0.09% of the stock is owned by insiders.

Boeing Stock Performance

Boeing stock traded down $10.77 during trading on Thursday, reaching $203.23. The company had a trading volume of 21,816,443 shares, compared to its average volume of 9,309,408. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $218.80. The stock's 50 day moving average price is $186.41 and its two-hundred day moving average price is $176.08. The firm has a market capitalization of $153.24 billion, a price-to-earnings ratio of -11.09 and a beta of 1.43.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analysts' expectations of $19.57 billion. The firm's quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.13) earnings per share. As a group, research analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

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.