Novem Group Invests $858,000 in The Boeing Company (NYSE:BA)

Novem Group acquired a new stake in The Boeing Company (NYSE:BA) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,847 shares of the aircraft producer’s stock, valued at approximately $858,000.

Other institutional investors also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Boeing by 43.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 139,533 shares of the aircraft producer’s stock valued at $24,697,000 after buying an additional 41,970 shares during the period. Elequin Capital LP bought a new position in shares of Boeing in the 4th quarter worth about $134,000. First Heartland Consultants Inc. lifted its stake in shares of Boeing by 1.6% in the 4th quarter. First Heartland Consultants Inc. now owns 5,332 shares of the aircraft producer’s stock valued at $944,000 after purchasing an additional 82 shares during the period. Vanguard Capital Wealth Advisors boosted its position in shares of Boeing by 34.3% during the 4th quarter. Vanguard Capital Wealth Advisors now owns 10,292 shares of the aircraft producer’s stock valued at $1,822,000 after purchasing an additional 2,627 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Boeing by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer’s stock valued at $502,933,000 after purchasing an additional 369,306 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

Shares of BA stock opened at $203.27 on Thursday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $209.66. The company has a 50-day simple moving average of $174.53 and a two-hundred day simple moving average of $169.64. The company has a market capitalization of $153.26 billion, a price-to-earnings ratio of -11.10 and a beta of 1.41.

Boeing (NYSE:BA) last released its earnings results 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 business 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% on a year-over-year basis. During the same period in the prior year, the company earned ($1.13) earnings per share. On average, sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the sale, the executive vice president now owns 20,513 shares in the company, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction dated 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 directly owns 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock worth $1,511,370 in the last quarter. 0.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BA shares. Sanford C. Bernstein upgraded Boeing from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $181.00 to $218.00 in a report on Monday, April 28th. JPMorgan Chase & Co. lifted their price objective on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley reissued a “positive” rating on shares of Boeing in a research note on Friday, May 16th. Cowen reaffirmed a “buy” rating on shares of Boeing in a research note on Wednesday, May 7th. Finally, Benchmark cut their price objective on shares of Boeing from $250.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $204.35.

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.