Stevens Capital Management LP Boosts Stock Holdings in The Boeing Company (NYSE:BA)

Key Points

• Stevens Capital Management LP increased its shareholding in The Boeing Company by 692.5%, now owning 38,975 shares valued at approximately $6.65 million.
• Research analysts have upgraded Boeing's rating, with price targets set between $212.00 and $275.00, reflecting increased confidence in the stock's performance.
• Insider sales show activity, with executives offloading shares, leading to a 4.60% decrease in ownership for one senior vice president and a 13.51% decrease for an executive vice president.

Stevens Capital Management LP increased its holdings in The Boeing Company (NYSE:BA - Free Report) by 692.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,975 shares of the aircraft producer's stock after buying an additional 34,057 shares during the period. Boeing accounts for 1.7% of Stevens Capital Management LP's investment portfolio, making the stock its 13th biggest position. Stevens Capital Management LP's holdings in Boeing were worth $6,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American National Bank & Trust boosted its holdings in Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after purchasing an additional 128 shares during the period. REAP Financial Group LLC lifted its holdings in shares of Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after acquiring an additional 65 shares during the last quarter. Dogwood Wealth Management LLC lifted its holdings in shares of Boeing by 167.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after acquiring an additional 112 shares during the last quarter. Solstein Capital LLC bought a new stake in shares of Boeing during the 4th quarter worth $33,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Boeing during the 4th quarter worth $33,000. 64.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction dated 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 in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the sale, the executive vice president owned 20,513 shares in the company, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is currently owned by company insiders.

Boeing Stock Performance

Shares of NYSE BA traded down $7.79 during midday trading on Tuesday, hitting $228.62. 13,786,933 shares of the company traded hands, compared to its average volume of 8,579,913. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The stock has a 50-day moving average price of $213.63 and a 200 day moving average price of $187.41. The firm has a market cap of $172.38 billion, a P/E ratio of -12.76 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). During the same quarter in the prior year, the firm posted ($2.90) EPS. The business's quarterly revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of research analyst reports. Benchmark dropped their price objective on shares of Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a report on Monday, April 21st. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Royal Bank Of Canada reiterated a "cautious" rating on shares of Boeing in a research report on Thursday, June 12th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $221.55.

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.