Zurich Insurance Group Ltd FI Makes New Investment in The Boeing Company (NYSE:BA)

Zurich Insurance Group Ltd FI acquired a new position in shares of The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 383,237 shares of the aircraft producer’s stock, valued at approximately $67,833,000. Zurich Insurance Group Ltd FI owned 0.05% of Boeing at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Keynote Financial Services LLC raised its holdings in Boeing by 3.8% during 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 period. Chaney Capital Management Inc. increased its holdings 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 valued at $508,000 after purchasing an additional 58 shares during the period. Farmers & Merchants Investments Inc. increased its holdings 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 valued at $1,878,000 after purchasing an additional 59 shares during the period. Center for Financial Planning Inc. increased its holdings 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 valued at $99,000 after purchasing an additional 60 shares during the period. Finally, Trek Financial LLC increased its holdings 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 valued at $408,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Christopher Raymond sold 3,899 shares of the firm’s stock in a transaction on 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 owns 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,903 shares of company stock valued at $2,082,169. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BA. TD Securities reiterated a “buy” rating and issued a $180.00 target price on shares of Boeing in a report on Thursday, April 24th. Citigroup upped their target price on Boeing from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. StockNews.com downgraded Boeing from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Melius Research set a $204.00 price objective on Boeing in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $204.35.

Boeing Price Performance

BA opened at $205.21 on Tuesday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $209.66. The firm’s fifty day moving average price is $172.73 and its two-hundred day moving average price is $169.14. The company has a market capitalization of $154.73 billion, a P/E ratio of -11.20 and a beta of 1.41.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (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 the consensus estimate of $19.57 billion. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.13) earnings per share. On average, equities research analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.