Lederer & Associates Investment Counsel CA Purchases Shares of 3,947 The Boeing Company (NYSE:BA)

Lederer & Associates Investment Counsel CA bought a new position in The Boeing Company (NYSE:BA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,947 shares of the aircraft producer’s stock, valued at approximately $673,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BA. Marcum Wealth LLC lifted its stake in Boeing by 3.0% during the first quarter. Marcum Wealth LLC now owns 11,132 shares of the aircraft producer’s stock valued at $1,899,000 after buying an additional 321 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Boeing by 39.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 4,078 shares of the aircraft producer’s stock valued at $696,000 after acquiring an additional 1,162 shares during the period. Emprise Bank raised its holdings in shares of Boeing by 8.4% during the first quarter. Emprise Bank now owns 1,943 shares of the aircraft producer’s stock valued at $331,000 after acquiring an additional 150 shares during the period. Prostatis Group LLC lifted its position in shares of Boeing by 23.3% in the 4th quarter. Prostatis Group LLC now owns 8,096 shares of the aircraft producer’s stock valued at $1,433,000 after acquiring an additional 1,531 shares in the last quarter. Finally, Chancellor Financial Group WB LP acquired a new position in Boeing in the 4th quarter worth approximately $313,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

Shares of Boeing stock opened at $201.50 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 fifty day moving average of $177.81 and a 200-day moving average of $171.40. The stock has a market capitalization of $151.93 billion, a price-to-earnings ratio of -11.00 and a beta of 1.41.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (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. During the same period in the previous year, the company earned ($1.13) earnings per share. Boeing’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on BA. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday, April 23rd. Citigroup reissued a “buy” rating on shares of Boeing in a research note on Thursday, May 22nd. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a report on Thursday, May 22nd. Wall Street Zen cut Boeing from a “hold” rating to a “sell” rating in a research report on Saturday, May 17th. Finally, UBS Group lifted their price objective on shares of Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $204.35.

Insider Transactions at Boeing

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was 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 of the company’s stock, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were 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 of the company’s stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock worth $1,511,370 over the last quarter. 0.09% of the stock is currently owned by 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.