ZWJ Investment Counsel Inc. Raises Stock Holdings in The Boeing Company (NYSE:BA)

ZWJ Investment Counsel Inc. boosted its position in shares of The Boeing Company (NYSE:BA) by 10,996.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 140,819 shares of the aircraft producer’s stock after buying an additional 139,550 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Boeing were worth $24,017,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BA. Vanguard Group Inc. raised its holdings 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 valued at $11,406,361,000 after acquiring an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC increased its position in Boeing by 29.5% during the 4th 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 period. Castlekeep Investment Advisors LLC bought a new position in Boeing in the 4th quarter worth $568,000. Alyeska Investment Group L.P. purchased a new stake in shares of Boeing in the 4th quarter worth about $526,889,000. Finally, Zimmer Partners LP bought a new stake in shares of Boeing during the 4th quarter valued at about $393,736,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE BA opened at $211.90 on Thursday. The company has a market capitalization of $159.77 billion, a price-to-earnings ratio of -11.82 and a beta of 1.41. The stock has a 50-day moving average of $200.59 and a 200 day moving average of $180.77. The Boeing Company has a one year low of $128.88 and a one year high of $218.80.

Boeing (NYSE:BA) last announced 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. The business’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.13) earnings per share. On average, equities analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 owned 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction dated 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 owned 20,513 shares of the company’s stock, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock valued at $1,511,370 in the last ninety days. 0.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Morgan Stanley set a $200.00 price target on shares of Boeing and gave the stock an “equal weight” rating in a research note on Thursday, June 12th. TD Securities lowered Boeing to a “cautious” rating in a research report on Thursday, May 22nd. Redburn Atlantic upgraded Boeing from a “hold” rating to a “strong-buy” rating and lifted their price target for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada reissued a “cautious” rating on shares of Boeing in a research report on Thursday, June 12th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $215.77.

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.