Pegasus Asset Management Inc. Invests $2.17 Million in The Boeing Company (NYSE:BA)

Pegasus Asset Management Inc. purchased a new position in The Boeing Company (NYSE:BA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,736 shares of the aircraft producer's stock, valued at approximately $2,172,000.

Several other institutional investors also recently added to or reduced their stakes in BA. Revolve Wealth Partners LLC purchased a new position in shares of Boeing in the fourth quarter worth about $201,000. Bank Pictet & Cie Europe AG bought a new position in Boeing in the 4th quarter worth approximately $7,837,000. Principal Securities Inc. grew its stake in Boeing by 39.9% in the 4th quarter. Principal Securities Inc. now owns 11,856 shares of the aircraft producer's stock valued at $2,098,000 after buying an additional 3,384 shares in the last quarter. Allworth Financial LP raised its holdings in Boeing by 16.1% during the 4th quarter. Allworth Financial LP now owns 23,653 shares of the aircraft producer's stock valued at $4,134,000 after acquiring an additional 3,288 shares during the period. Finally, Valmark Advisers Inc. lifted its position in shares of Boeing by 9.2% during the fourth quarter. Valmark Advisers Inc. now owns 3,427 shares of the aircraft producer's stock worth $607,000 after acquiring an additional 288 shares in the last quarter. Institutional investors own 64.82% of the company's stock.

Boeing Stock Performance

Shares of NYSE BA opened at $200.21 on Wednesday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $218.80. The company has a 50 day simple moving average of $190.97 and a two-hundred day simple moving average of $177.59. The company has a market capitalization of $150.96 billion, a price-to-earnings ratio of -11.17 and a beta of 1.43.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to analysts' expectations of $19.57 billion. During the same quarter in the previous year, the company earned ($1.13) EPS. The company's quarterly revenue was up 17.7% compared to the same quarter last year. On average, analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president now directly owns 20,513 shares in the company, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the transaction, the executive vice president now owns 42,513 shares in the company, valued at $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on BA. Sanford C. Bernstein raised shares of Boeing from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $181.00 to $218.00 in a report on Monday, April 28th. UBS Group upped their price target on shares of Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Susquehanna reaffirmed a "positive" rating and issued a $240.00 price target (up previously from $205.00) on shares of Boeing in a report on Wednesday, May 14th. Bank of America raised shares of Boeing from a "neutral" rating to a "buy" rating and upped their price target for the stock from $185.00 to $260.00 in a report on Monday, June 2nd. Finally, Wall Street Zen cut shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $209.85.

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.

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