Staley Capital Advisers Inc. Purchases 9,526 Shares of The Boeing Company (NYSE:BA)

Key Points

• Staley Capital Advisers Inc. increased its stake in Boeing by 3.2%, totaling 307,607 shares valued at approximately $52.46 million, making it the company's 15th largest position.
• Several other large investors have also raised their positions in Boeing, contributing to 64.82% of the company's total stock ownership being held by institutional investors.
• Boeing's recent earnings report showed a revenue increase of 34.9% year-over-year, but the company reported a loss of ($1.24) earnings per share, missing analyst expectations.

Staley Capital Advisers Inc. grew its position in shares of The Boeing Company (NYSE:BA - Free Report) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 307,607 shares of the aircraft producer's stock after buying an additional 9,526 shares during the period. Boeing comprises 2.4% of Staley Capital Advisers Inc.'s portfolio, making the stock its 15th largest position. Staley Capital Advisers Inc.'s holdings in Boeing were worth $52,462,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BA. Vestcor Inc increased its position in Boeing by 9.0% in the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after acquiring an additional 1,195 shares during the period. KKM Financial LLC grew its holdings in shares of Boeing by 50.8% in the 4th quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock worth $2,720,000 after acquiring an additional 5,175 shares during the last quarter. Wynn Capital LLC acquired a new stake in shares of Boeing in the first quarter worth $584,000. Advanced Portfolio Management LLC boosted its position in shares of Boeing by 182.2% in the fourth quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer's stock worth $2,655,000 after buying an additional 9,684 shares during the period. Finally, Zimmer Partners LP acquired a new stake in shares of Boeing in the fourth quarter worth $393,736,000. Institutional investors own 64.82% of the company's stock.

Boeing Trading Up 2.8%

BA stock traded up $6.27 during mid-day trading on Tuesday, hitting $232.23. 7,395,206 shares of the company were exchanged, compared to its average volume of 7,054,675. The business has a 50 day simple moving average of $218.06 and a 200-day simple moving average of $191.40. The stock has a market capitalization of $175.60 billion, a PE ratio of -14.07 and a beta of 1.48. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $20.13 billion. During the same period last year, the firm posted ($2.90) EPS. The company's quarterly revenue was up 34.9% compared to the same quarter last year. Equities research analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays lifted their price objective on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 price objective on shares of Boeing in a research report on Wednesday, July 30th. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Benchmark lowered their price target on Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Finally, TD Securities lowered Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.90.

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.