Steadfast Capital Management LP Purchases Shares of 38,800 The Boeing Company (NYSE:BA)

Steadfast Capital Management LP acquired a new stake in The Boeing Company (NYSE:BA - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 38,800 shares of the aircraft producer's stock, valued at approximately $6,868,000.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings 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 worth $11,406,361,000 after buying an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Boeing by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the period. Northern Trust Corp boosted its stake 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 purchasing an additional 1,634,231 shares during the last quarter. Fisher Asset Management LLC grew its position in Boeing by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer's stock worth $890,469,000 after purchasing an additional 164,042 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Boeing by 30.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer's stock valued at $739,585,000 after acquiring an additional 981,796 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now owns 13,258 shares in the company, valued at $2,734,860.24. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the company's stock in a transaction on Friday, May 2nd. The stock was 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 in the company, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,903 shares of company stock worth $2,082,169. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BA shares. Benchmark reduced their target price on Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a report on Monday, April 21st. Citigroup raised their price target on shares of Boeing from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Melius Research set a $204.00 price target on shares of Boeing in a report on Monday, March 24th. Wells Fargo & Company reissued an "underweight" rating and set a $140.00 price objective (up previously from $111.00) on shares of Boeing in a research note on Wednesday, April 23rd. Finally, Sanford C. Bernstein raised shares of 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 note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and two have given 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.

Boeing Stock Performance

Shares of Boeing stock traded down $3.81 during midday trading on Wednesday, reaching $203.86. 4,316,885 shares of the company's stock traded hands, compared to its average volume of 8,775,715. The company has a market cap of $153.71 billion, a PE ratio of -11.13 and a beta of 1.41. The stock has a 50 day moving average of $173.70 and a 200-day moving average of $169.40. 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 announced its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same period in the previous year, the firm posted ($1.13) EPS. The company's revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities analysts anticipate that The Boeing Company will post -2.58 earnings per share 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.