Elevation Point Wealth Partners LLC Has $948,000 Stock Holdings in The Boeing Company (NYSE:BA)

Elevation Point Wealth Partners LLC lifted its holdings in The Boeing Company (NYSE:BA) by 50.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,558 shares of the aircraft producer’s stock after buying an additional 1,873 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Boeing were worth $948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Sierra Ocean LLC acquired a new stake in Boeing during the fourth quarter valued at $26,000. American National Bank & Trust boosted its position in Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after purchasing an additional 128 shares during the last quarter. HighMark Wealth Management LLC boosted its position in Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. REAP Financial Group LLC boosted its position in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after purchasing an additional 65 shares during the last quarter. Finally, Anfield Capital Management LLC boosted its position in Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 1.7%

Shares of BA opened at $200.21 on Friday. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $218.80. The firm has a market capitalization of $150.96 billion, a price-to-earnings ratio of -10.93 and a beta of 1.43. The stock’s 50-day moving average price is $188.93 and its 200 day moving average price is $176.94.

Boeing (NYSE:BA) last issued its quarterly 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 firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the prior year, the firm earned ($1.13) earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. Equities research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BA shares. Morgan Stanley reissued an “equal weight” rating and set a $200.00 price objective on shares of Boeing in a research report on Thursday. Susquehanna restated a “positive” rating and set a $240.00 target price (up from $205.00) on shares of Boeing in a report on Wednesday, May 14th. Benchmark cut their target price on Boeing from $250.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Wall Street Zen lowered Boeing from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. Finally, Sanford C. Bernstein upgraded Boeing from a “market perform” rating to an “outperform” rating and raised their target price for the company from $181.00 to $218.00 in a report on Monday, April 28th. Three analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average target price of $209.85.

Insider Activity at Boeing

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the sale, the executive vice president now directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president now directly owns 42,513 shares in the company, valued at $7,950,356.13. The trade was a 8.40% 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 worth $1,511,370 over the last three months. Company insiders own 0.09% of the company’s stock.

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.