Tang Capital Management LLC Makes New $1.11 Million Investment in The Boeing Company (NYSE:BA)

Tang Capital Management LLC bought a new position in The Boeing Company (NYSE:BA) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 6,294 shares of the aircraft producer’s stock, valued at approximately $1,114,000.

A number of other institutional investors have also bought and sold shares of BA. Keynote Financial Services LLC lifted its position in shares of Boeing by 3.8% in the 4th quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock worth $273,000 after buying an additional 57 shares during the last quarter. Chaney Capital Management Inc. lifted its position in shares of Boeing by 2.1% in the 4th quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock worth $508,000 after buying an additional 58 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its position in shares of Boeing by 0.6% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock worth $1,878,000 after buying an additional 59 shares during the last quarter. Center for Financial Planning Inc. lifted its position in shares of Boeing by 12.0% in the 4th quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock worth $99,000 after buying an additional 60 shares during the last quarter. Finally, Trek Financial LLC lifted its position in shares of Boeing by 2.7% in the 4th quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer’s stock worth $408,000 after buying an additional 60 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

NYSE BA opened at $205.88 on Friday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $209.66. The firm has a market capitalization of $155.23 billion, a PE ratio of -11.24 and a beta of 1.41. The company’s 50 day simple moving average is $171.81 and its 200 day simple moving average is $168.65.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS 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 analyst estimates of $19.57 billion. During the same quarter in the prior year, the business earned ($1.13) EPS. Boeing’s revenue was up 17.7% compared to the same quarter last year. Sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president now directly owns 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was 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 owns 42,513 shares in the company, valued at $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. Insiders have sold 10,263 shares of company stock worth $1,950,150 over the last quarter. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BA shares. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research report on Wednesday, April 23rd. Melius Research set a $204.00 price target on shares of Boeing in a research report on Monday, March 24th. Susquehanna restated a “positive” rating and issued a $240.00 price target (up from $205.00) on shares of Boeing in a research report on Wednesday. Sanford C. Bernstein upgraded shares of Boeing from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $181.00 to $218.00 in a research report on Monday, April 28th. Finally, Cowen reissued a “buy” rating on shares of Boeing in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average price target of $204.35.

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.