The Boeing Company (NYSE:BA) Position Increased by Patten & Patten Inc. TN

Key Points

• Patten & Patten Inc. TN increased its stake in Boeing by 4.5%, now owning 25,048 shares valued at approximately $4.27 million.
• Numerous hedge funds made significant moves in Boeing shares during the fourth quarter, with Pictet Asset Management boosting its holdings by 21.4% to 272,262 shares.
• Boeing's stock currently holds a consensus rating of "Moderate Buy" with an average price target of $221.55, despite some analysts giving it cautious or reduced ratings.

Patten & Patten Inc. TN raised its position in shares of The Boeing Company (NYSE:BA - Free Report) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,048 shares of the aircraft producer's stock after buying an additional 1,085 shares during the quarter. Patten & Patten Inc. TN's holdings in Boeing were worth $4,272,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BA. Revolve Wealth Partners LLC purchased a new stake in Boeing during the fourth quarter valued at about $201,000. Bank Pictet & Cie Europe AG purchased a new stake in Boeing during the fourth quarter valued at about $7,837,000. Pictet Asset Management Holding SA lifted its stake in Boeing by 21.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 272,262 shares of the aircraft producer's stock valued at $48,190,000 after buying an additional 47,930 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in Boeing by 4.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 41,332 shares of the aircraft producer's stock valued at $7,316,000 after buying an additional 1,716 shares in the last quarter. Finally, RiverFront Investment Group LLC lifted its stake in Boeing by 3.2% during the fourth quarter. RiverFront Investment Group LLC now owns 2,709 shares of the aircraft producer's stock valued at $479,000 after buying an additional 84 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on BA shares. TD Securities lowered shares of Boeing to a "cautious" rating in a research report on Thursday, May 22nd. Benchmark reduced their price target on shares of Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. Cowen reissued a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Boeing presently has a consensus rating of "Moderate Buy" and an average price target of $221.55.

Boeing Stock Up 0.8%

Shares of BA stock opened at $233.02 on Monday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $235.27. The business's 50 day moving average is $213.01 and its two-hundred day moving average is $186.96. The company has a market cap of $175.70 billion, a PE ratio of -13.00 and a beta of 1.41.

Insider Transactions at Boeing

In other news, EVP David Christopher Raymond sold 3,899 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president owned 42,513 shares in the company, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's 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 sale, the executive vice president owned 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was 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. Insiders own 0.09% of the company's stock.

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.

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