Red Door Wealth Management LLC Purchases New Shares in The Boeing Company (NYSE:BA)

Red Door Wealth Management LLC purchased a new position in shares of The Boeing Company (NYSE:BA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,913 shares of the aircraft producer's stock, valued at approximately $326,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Vanguard Group Inc. lifted its stake in Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock worth $11,406,361,000 after acquiring an additional 12,641,715 shares during the period. Geode Capital Management LLC raised its holdings in Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares in the last quarter. Northern Trust Corp lifted its position in shares of Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock worth $1,151,316,000 after purchasing an additional 1,634,231 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Boeing by 30.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer's stock valued at $739,585,000 after purchasing an additional 981,796 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in shares of Boeing during the 4th quarter valued at about $568,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boeing

In other news, EVP David Christopher Raymond sold 3,899 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 42,513 shares of the company's stock, valued at $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the sale, the senior vice president directly owned 13,258 shares of the company's stock, valued at $2,734,860.24. This trade represents 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 worth $1,511,370 in the last 90 days. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on BA. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price on the stock in a report on Friday, June 27th. UBS Group upped their price objective on shares of Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Cowen reiterated a "buy" rating on shares of Boeing in a report on Wednesday, May 7th. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Finally, Citigroup reaffirmed a "buy" rating on shares of Boeing in a research report on Thursday, May 22nd. Four analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Boeing has an average rating of "Moderate Buy" and a consensus target price of $215.77.

Boeing Trading Up 1.0%

NYSE BA traded up $2.11 during trading hours on Wednesday, reaching $211.90. The company had a trading volume of 5,864,484 shares, compared to its average volume of 9,465,386. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $218.80. The stock has a 50-day moving average of $199.80 and a 200 day moving average of $180.55. The stock has a market capitalization of $159.77 billion, a P/E ratio of -11.82 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last announced its 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 business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. During the same period in the previous year, the firm earned ($1.13) earnings per share. The business's revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current 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.