The Boeing Company (NYSE:BA) Shares Bought by AGP Franklin LLC

Key Points

• AGP Franklin LLC increased its stake in Boeing by 75.4%, owning 16,295 shares valued at approximately $2.5 million, making it Boeing’s 22nd largest holding.
• Boeing has received upgraded price targets from multiple analysts, with Jefferies setting a new target at $250 and Bank of America raising their target to $260, reflecting bullish sentiment.
• Insider selling has been reported, with executives David Christopher Raymond and Jeffrey S. Shockey selling shares and reducing their stakes by 8.4% and 13.5% respectively.

AGP Franklin LLC raised its position in The Boeing Company (NYSE:BA - Free Report) by 75.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 16,295 shares of the aircraft producer's stock after acquiring an additional 7,003 shares during the period. Boeing makes up 1.6% of AGP Franklin LLC's investment portfolio, making the stock its 22nd largest holding. AGP Franklin LLC's holdings in Boeing were worth $2,534,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock valued at $2,677,170,000 after purchasing an additional 3,452,075 shares in the last quarter. Northern Trust Corp increased its holdings in Boeing by 33.6% during the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock valued at $1,151,316,000 after acquiring an additional 1,634,231 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Boeing during the 4th quarter valued at about $568,000. Alyeska Investment Group L.P. purchased a new position in Boeing during the 4th quarter valued at about $526,889,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Boeing by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer's stock valued at $502,933,000 after acquiring an additional 369,306 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Wall Street Analyst Weigh In

BA has been the subject of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a report on Wednesday. Jefferies Financial Group raised their target price on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Susquehanna lifted their price target on shares of Boeing from $265.00 to $270.00 and gave the stock a "positive" rating in a report on Wednesday. Finally, Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Three analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boeing presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.73.

Insider Activity

In related news, EVP David Christopher Raymond sold 3,899 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the sale, the executive vice president owned 42,513 shares of the company's stock, valued at $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 directly owned 20,513 shares of the company's stock, valued at $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 sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by company insiders.

Boeing Stock Performance

Shares of BA traded down $3.35 during midday trading on Thursday, hitting $222.49. 4,873,397 shares of the stock traded hands, compared to its average volume of 8,607,285. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The firm has a market capitalization of $167.76 billion, a PE ratio of -13.47 and a beta of 1.41. The business's 50 day moving average price is $214.47 and its two-hundred day moving average price is $187.94.

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). 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 business posted ($2.90) earnings per share. The business's revenue for the quarter was up 34.9% on a year-over-year basis. As a group, equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.