758 Shares in The Boeing Company (NYSE:BA) Acquired by Elequin Capital LP

Elequin Capital LP bought a new position in The Boeing Company (NYSE:BA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 758 shares of the aircraft producer’s stock, valued at approximately $134,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Boeing by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after purchasing an additional 12,641,715 shares during the period. Geode Capital Management LLC increased its holdings in shares of Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Northern Trust Corp boosted its position in shares of Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after acquiring an additional 1,634,231 shares during the period. Fisher Asset Management LLC increased its stake in Boeing by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock worth $890,469,000 after acquiring an additional 164,042 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Boeing by 30.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after purchasing an additional 981,796 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on BA. JPMorgan Chase & Co. upped their price target on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Susquehanna restated a “positive” rating and set a $240.00 target price (up previously from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Benchmark dropped their price target on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Melius Research set a $204.00 price objective on shares of Boeing in a research report on Monday, March 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.35.

Insider Buying and Selling at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This trade represents a 14.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the sale, the senior vice president now owns 13,258 shares of the company’s stock, valued at $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,903 shares of company stock valued at $2,082,169 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Up 1.1%

Shares of Boeing stock opened at $207.48 on Wednesday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $209.66. The firm has a market cap of $156.44 billion, a PE ratio of -11.33 and a beta of 1.41. The business’s fifty day simple moving average is $173.70 and its 200-day simple moving average is $169.40.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.13) EPS. As a group, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

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.