Rovida Investment Management Ltd Buys 40,000 Shares of The Boeing Company (NYSE:BA)

Key Points

• Rovida Investment Management increased its position in Boeing by 8.4% during Q1, now holding over 517,000 shares, which makes it 27.3% of its overall investment portfolio.
• Boeing's recent earnings report showed a loss of ($1.24) EPS, missing expectations, though revenue was up 34.9% year-over-year at $22.75 billion.
• Institutional investors hold 64.82% of Boeing's stock, reflecting strong interest and investment from larger financial entities.

Rovida Investment Management Ltd lifted its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 517,000 shares of the aircraft producer's stock after buying an additional 40,000 shares during the period. Boeing makes up approximately 27.3% of Rovida Investment Management Ltd's holdings, making the stock its largest position. Rovida Investment Management Ltd owned approximately 0.07% of Boeing worth $88,195,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wood Tarver Financial Group LLC lifted its position in Boeing by 14.3% in the first quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer's stock valued at $75,000 after purchasing an additional 55 shares during the period. Signature Wealth Management Partners LLC lifted its position in Boeing by 2.0% in the first quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer's stock valued at $493,000 after purchasing an additional 57 shares during the period. Byrne Financial Freedom LLC lifted its position in Boeing by 3.0% in the first quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer's stock valued at $340,000 after purchasing an additional 58 shares during the period. HighPoint Advisor Group LLC lifted its position in Boeing by 0.3% in the first quarter. HighPoint Advisor Group LLC now owns 19,657 shares of the aircraft producer's stock valued at $3,578,000 after purchasing an additional 58 shares during the period. Finally, WBH Advisory Inc. lifted its position in Boeing by 2.6% in the first quarter. WBH Advisory Inc. now owns 2,304 shares of the aircraft producer's stock valued at $393,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 64.82% of the company's stock.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent analyst reports. Barclays raised their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective for the company in a research report on Friday, June 27th. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and increased their target price for the company from $180.00 to $275.00 in a report on Friday, June 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $250.00 target price on shares of Boeing in a report on Wednesday, July 30th. Finally, Susquehanna increased their target price on shares of Boeing from $265.00 to $270.00 and gave the company a "positive" rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and an average price target of $228.90.

Boeing Stock Up 0.8%

Shares of BA traded up $1.75 during mid-day trading on Friday, reaching $229.08. 4,716,407 shares of the company's stock were exchanged, compared to its average volume of 7,248,547. The company has a 50-day simple moving average of $217.39 and a two-hundred day simple moving average of $190.77. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The company has a market cap of $173.22 billion, a price-to-earnings ratio of -13.88 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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. Boeing's quarterly revenue was up 34.9% on a year-over-year basis. During the same period last year, the business posted ($2.90) earnings per share. As a group, equities research analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity at Boeing

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing 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 completion of the sale, the executive vice president directly owned 20,513 shares of the company's stock, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of Boeing 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. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

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.