Tairen Capital Ltd Has $19.47 Million Stock Holdings in The Boeing Company (NYSE:BA)

Tairen Capital Ltd reduced its stake in The Boeing Company (NYSE:BA) by 54.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 110,000 shares of the aircraft producer’s stock after selling 131,000 shares during the period. Boeing makes up approximately 2.9% of Tairen Capital Ltd’s portfolio, making the stock its 9th biggest position. Tairen Capital Ltd’s holdings in Boeing were worth $19,470,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sierra Ocean LLC bought a new stake in Boeing during the fourth quarter valued at $26,000. Sugar Maple Asset Management LLC bought a new stake in Boeing during the fourth quarter valued at $27,000. Fiduciary Advisors Inc. bought a new stake in Boeing during the fourth quarter valued at $28,000. HighMark Wealth Management LLC boosted its stake in Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after buying an additional 90 shares during the period. Finally, Anfield Capital Management LLC boosted its stake in Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after buying an additional 95 shares during the period. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

Boeing stock opened at $205.88 on Friday. The stock’s 50 day simple moving average is $171.81 and its two-hundred day simple moving average is $168.65. The stock has a market cap of $155.23 billion, a price-to-earnings ratio of -11.24 and a beta of 1.41. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $209.66.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. During the same period in the prior year, the firm earned ($1.13) earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, the executive vice president now owns 20,513 shares of the company’s stock, valued at $4,161,472.31. This trade represents a 13.51% 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 valued at $1,950,150 in the last ninety days. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BA. TD Securities reissued a “buy” rating and set a $180.00 price objective on shares of Boeing in a research note on Thursday, April 24th. Sanford C. Bernstein upgraded Boeing from a “market perform” rating to an “outperform” rating and raised their price target for the company from $181.00 to $218.00 in a research report on Monday, April 28th. Morgan Stanley raised their price target on Boeing from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday. Cowen restated a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. Finally, Susquehanna reiterated a “positive” rating and issued a $240.00 price objective (up previously from $205.00) on shares of Boeing in a report on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $204.35.

Boeing Company 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.