Sandia Investment Management LP Makes New $620,000 Investment in The Boeing Company (NYSE:BA)

Sandia Investment Management LP bought a new position in The Boeing Company (NYSE:BA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,500 shares of the aircraft producer's stock, valued at approximately $620,000. Boeing accounts for about 1.4% of Sandia Investment Management LP's holdings, making the stock its 18th biggest position.

Several other hedge funds also recently made changes to their positions in BA. Sculptor Capital LP bought a new position in Boeing during the 4th quarter valued at about $265,500,000. Shellback Capital LP bought a new position in shares of Boeing during the 4th quarter valued at approximately $7,080,000. Seven Grand Managers LLC bought a new position in shares of Boeing during the 4th quarter valued at approximately $8,850,000. Rafferty Asset Management LLC boosted its position in shares of Boeing by 104.5% during the 4th quarter. Rafferty Asset Management LLC now owns 169,485 shares of the aircraft producer's stock valued at $29,999,000 after acquiring an additional 86,612 shares during the last quarter. Finally, Ratan Capital Management LP bought a new stake in Boeing in the fourth quarter worth $20,614,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

BA opened at $205.88 on Friday. The business has a 50 day simple moving average of $171.81 and a 200-day simple moving average of $168.55. The stock has a market capitalization of $155.23 billion, a P/E ratio of -11.24 and a beta of 1.41. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $209.66.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. The business's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.13) earnings per share. Research analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on BA shares. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, April 23rd. Citigroup lifted their target price on Boeing from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. TD Securities restated a "buy" rating and issued a $180.00 price objective on shares of Boeing in a research report on Thursday, April 24th. Sanford C. Bernstein upgraded Boeing from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $181.00 to $218.00 in a research report on Monday, April 28th. Finally, UBS Group boosted their price objective on Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Boeing presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.35.

Insiders Place Their Bets

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the business's stock in a transaction dated 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 now owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,899 shares of the business'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 now directly owns 42,513 shares of the company's stock, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,263 shares of company stock worth $1,950,150 over the last quarter. 0.09% of the stock is owned by corporate insiders.

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.

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