Virtu Financial LLC Invests $1.43 Million in The Boeing Company (NYSE:BA)

Key Points

• Virtu Financial LLC invested approximately $1.43 million in Boeing by purchasing 8,407 shares during the first quarter.
• Various institutional investors have increased their stakes in Boeing, with a total of 64.82% of the stock owned by such entities.
• Wall Street analysts have given Boeing a consensus rating of "Moderate Buy" with an average price target of $228.90.

Virtu Financial LLC purchased a new position in The Boeing Company (NYSE:BA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,407 shares of the aircraft producer's stock, valued at approximately $1,434,000.

Other large investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $201,000. Bank Pictet & Cie Europe AG acquired a new position in Boeing during the 4th quarter valued at about $7,837,000. FIL Ltd raised its stake in Boeing by 29.3% in the fourth quarter. FIL Ltd now owns 2,483 shares of the aircraft producer's stock valued at $439,000 after buying an additional 563 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Boeing by 19.1% in the fourth quarter. Bessemer Group Inc. now owns 19,327 shares of the aircraft producer's stock worth $3,422,000 after acquiring an additional 3,106 shares in the last quarter. Finally, Sagespring Wealth Partners LLC acquired a new stake in Boeing in the fourth quarter worth about $1,059,000. 64.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BA shares. UBS Group set a $280.00 price objective on shares of Boeing and gave the company a "buy" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $250.00 price target on shares of Boeing in a report on Wednesday, July 30th. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Finally, Redburn Atlantic raised 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 research report on Friday, June 27th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.90.

Boeing Stock Up 0.3%

Shares of Boeing stock traded up $0.71 on Wednesday, reaching $233.32. The company's stock had a trading volume of 6,664,455 shares, compared to its average volume of 8,463,781. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The company has a market capitalization of $176.43 billion, a P/E ratio of -14.13 and a beta of 1.48. The stock has a 50-day moving average price of $218.06 and a 200-day moving average price of $191.40.

Boeing (NYSE:BA - Get Free Report) last posted 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 business had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. During the same quarter last year, the firm posted ($2.90) earnings per share. The firm's quarterly revenue was up 34.9% on a year-over-year basis. Sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other Boeing 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 value of $132,019.20. Following the completion of the sale, the senior vice president directly owned 13,258 shares in the company, valued at $2,734,860.24. This represents a 4.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.