Phoenix Financial Ltd. Boosts Position in The Boeing Company (NYSE:BA)

Key Points

• Phoenix Financial Ltd. increased its stake in Boeing by 430.9%, owning 150,329 shares valued at approximately $25.6 million as of the end of the first quarter.
• Analysts have varied opinions on Boeing, with reports showing a mix of buy, hold, and sell ratings; the stock has a consensus rating of "Moderate Buy" with a target price of $221.55.
• Insider transactions included EVP David Christopher Raymond selling 3,899 shares at $187.01 and EVP Jeffrey S. Shockey selling 3,205 shares at $202.87, indicating a general decrease in ownership among executives.

Phoenix Financial Ltd. raised its stake in The Boeing Company (NYSE:BA - Free Report) by 430.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,329 shares of the aircraft producer's stock after buying an additional 122,015 shares during the period. Phoenix Financial Ltd.'s holdings in Boeing were worth $25,640,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock valued at $2,677,170,000 after buying an additional 3,452,075 shares during the period. Northern Trust Corp boosted its position 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 during the period. Castlekeep Investment Advisors LLC purchased a new stake in Boeing during the 4th quarter valued at $568,000. Alyeska Investment Group L.P. purchased a new stake in shares of Boeing in the 4th quarter worth about $526,889,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Boeing by 14.9% in 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 period. Institutional investors own 64.82% of the company's stock.

Insider Transactions at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The sale 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 company's stock in a transaction dated 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 owned 42,513 shares in the company, valued at approximately $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 valued at $1,511,370. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on BA. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. Wells Fargo & Company reiterated an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Benchmark lowered their price target 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. Citigroup reissued a "buy" rating on shares of Boeing in a research report on Monday. Finally, Susquehanna reissued a "positive" rating on shares of Boeing in a research report on Monday, July 14th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $221.55.

Boeing Stock Performance

Shares of BA traded down $7.89 during mid-day trading on Tuesday, reaching $228.52. The stock had a trading volume of 13,786,933 shares, compared to its average volume of 8,579,913. The firm has a market cap of $172.31 billion, a price-to-earnings ratio of -12.76 and a beta of 1.41. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The business has a fifty day moving average of $213.63 and a 200 day moving average of $187.41.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). During the same period in the previous year, the firm earned ($2.90) EPS. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. On average, research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

About Boeing

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.