Quantitative Investment Management LLC Takes $18.12 Million Position in The Boeing Company $BA

Key Points

• Quantitative Investment Management LLC has acquired a new stake in The Boeing Company, purchasing 106,262 shares valued at approximately $18.12 million, making it the firm's 9th largest position.
• Several analysts have recently given positive ratings on Boeing stock, with price targets ranging from $250.00 to $280.00, indicating a generally optimistic outlook for the company.
• Despite reporting a loss of ($1.24) EPS for the last quarter, Boeing's revenue increased by 34.9% year-over-year, reaching $22.75 billion, exceeding analysts' expectations.

Quantitative Investment Management LLC bought a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 106,262 shares of the aircraft producer's stock, valued at approximately $18,122,000. Boeing makes up about 1.7% of Quantitative Investment Management LLC's portfolio, making the stock its 9th biggest position.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Castlekeep Investment Advisors LLC acquired a new position in shares of Boeing during the 4th quarter worth approximately $568,000. Alyeska Investment Group L.P. purchased a new position in Boeing during the fourth quarter worth $526,889,000. Zimmer Partners LP acquired a new position in shares of Boeing in the fourth quarter worth $393,736,000. Northern Trust Corp lifted its position in shares of Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock valued at $1,151,316,000 after acquiring an additional 1,634,231 shares in the last quarter. Finally, Sculptor Capital LP purchased a new stake in shares of Boeing in the fourth quarter valued at $265,500,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Trading Up 0.3%

BA traded up $0.64 during trading on Thursday, hitting $236.26. 4,033,176 shares of the company's stock were exchanged, compared to its average volume of 8,322,122. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a 50 day moving average price of $223.12 and a 200 day moving average price of $195.28. The firm has a market cap of $178.65 billion, a P/E ratio of -14.31 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. Boeing's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.90) EPS. Analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the sale, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares in the company, valued at approximately $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a report on Friday, June 27th. TD Securities downgraded shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lifted their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company reiterated an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $228.90.

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.