L & S Advisors Inc Raises Position in The Boeing Company (NYSE:BA)

Key Points

• L & S Advisors Inc significantly increased its stake in The Boeing Company by 473.8%, owning 8,148 shares valued at $1.39 million as of their latest SEC filing.
• Boeing reported a loss of $1.24 EPS for the last quarter, missing analysts' expectations but achieved revenue growth of 34.9% year-over-year, totaling $22.75 billion.
• Institutional investors collectively hold 64.82% of Boeing's stock, indicating strong institutional interest and confidence in the company.

L & S Advisors Inc lifted its position in The Boeing Company (NYSE:BA - Free Report) by 473.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,148 shares of the aircraft producer's stock after buying an additional 6,728 shares during the quarter. L & S Advisors Inc's holdings in Boeing were worth $1,390,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vestcor Inc raised its position in shares of Boeing by 9.0% in the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock worth $2,471,000 after purchasing an additional 1,195 shares during the last quarter. KKM Financial LLC lifted its position in Boeing by 50.8% during the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock valued at $2,720,000 after purchasing an additional 5,175 shares during the period. Wynn Capital LLC purchased a new stake in Boeing in the first quarter worth approximately $584,000. Advanced Portfolio Management LLC grew its position in Boeing by 182.2% in the 4th quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer's stock worth $2,655,000 after purchasing an additional 9,684 shares during the period. Finally, Zimmer Partners LP bought a new stake in shares of Boeing during the 4th quarter valued at about $393,736,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president directly owned 13,258 shares of the company's stock, valued at approximately $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. Company insiders own 0.09% of the company's stock.

Boeing Trading Up 1.0%

NYSE BA traded up $2.28 on Tuesday, reaching $224.62. 5,680,116 shares of the company were exchanged, compared to its average volume of 8,103,891. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The stock has a market capitalization of $169.85 billion, a P/E ratio of -13.61 and a beta of 1.48. The business's fifty day moving average price is $215.62 and its 200 day moving average price is $189.33.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The business's revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.90) EPS. Equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. UBS Group set a $280.00 price target on Boeing and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Barclays set a $255.00 price target on Boeing and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $250.00 price objective on shares of Boeing in a report on Wednesday, July 30th. Finally, Cowen reaffirmed a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $228.90.

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.