Peregrine Asset Advisers Inc. Grows Stock Position in The Boeing Company (NYSE:BA)

Peregrine Asset Advisers Inc. grew its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 563.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,838 shares of the aircraft producer's stock after purchasing an additional 12,603 shares during the quarter. Peregrine Asset Advisers Inc.'s holdings in Boeing were worth $2,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Boeing by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Boeing by 29.5% during 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 acquiring an additional 3,452,075 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Boeing during the 4th quarter valued at approximately $568,000. Alyeska Investment Group L.P. bought a new position in shares of Boeing during the 4th quarter valued at approximately $526,889,000. Finally, Zimmer Partners LP bought a new position in shares of Boeing during the 4th quarter valued at approximately $393,736,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Price Performance

Shares of BA stock traded down $0.87 during trading hours on Tuesday, reaching $228.45. 4,613,095 shares of the stock were exchanged, compared to its average volume of 9,555,900. The business's fifty day moving average is $210.26 and its two-hundred day moving average is $184.87. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $233.61. The firm has a market capitalization of $172.25 billion, a P/E ratio of -12.75 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analysts' expectations of $19.57 billion. During the same quarter in the previous year, the firm earned ($1.13) EPS. Boeing's revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BA has been the topic of a number of recent analyst reports. Citigroup increased their target price on Boeing from $220.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Jefferies Financial Group raised their price objective on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Morgan Stanley raised their price objective on Boeing from $200.00 to $235.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group set a $212.00 price objective on Boeing and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Susquehanna reaffirmed a "positive" rating on shares of Boeing in a research report on Monday, July 14th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $221.55.

Insider Activity

In related news, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president owned 13,258 shares of the company's stock, valued at $2,734,860.24. This 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 at this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president directly owned 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,744 shares of company stock valued at $1,511,370. Company insiders own 0.09% of the company's stock.

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.