US Asset Management LLC Takes $225,000 Position in The Boeing Company (NYSE:BA)

US Asset Management LLC purchased a new position in The Boeing Company (NYSE:BA) during the fourth quarter, Holdings Channel.com reports. The firm purchased 1,274 shares of the aircraft producer’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also modified their holdings of BA. Amundi raised its stake in shares of Boeing by 473.6% during the 4th quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock worth $268,862,000 after purchasing an additional 1,292,417 shares in the last quarter. KKM Financial LLC boosted its holdings in Boeing by 50.8% in the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer’s stock worth $2,720,000 after purchasing an additional 5,175 shares in the last quarter. Grant Private Wealth Management Inc acquired a new position in Boeing during the fourth quarter worth $903,000. Tandem Capital Management Corp ADV raised its holdings in Boeing by 65.2% during the fourth quarter. Tandem Capital Management Corp ADV now owns 13,815 shares of the aircraft producer’s stock valued at $2,445,000 after buying an additional 5,451 shares in the last quarter. Finally, Winslow Asset Management Inc. lifted its position in shares of Boeing by 8.2% in the fourth quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer’s stock worth $7,215,000 after buying an additional 3,096 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Up 0.1%

BA stock opened at $203.39 on Friday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $209.66. The company has a market cap of $153.36 billion, a P/E ratio of -11.10 and a beta of 1.41. The business has a fifty day moving average of $175.36 and a 200-day moving average of $169.97.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same period in the prior year, the firm posted ($1.13) earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company reissued an “underweight” rating on shares of Boeing in a research note on Thursday. Cowen reissued a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. Melius Research set a $204.00 price objective on shares of Boeing in a report on Monday, March 24th. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a research note on Thursday. Finally, UBS Group boosted their target price on shares of Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.35.

Insider Transactions at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was 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 in the company, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Brendan J. Nelson sold 640 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president now owns 13,258 shares in the company, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock worth $1,511,370 in the last quarter. 0.09% of the stock is owned by company insiders.

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.