Intact Investment Management Inc. Has $1.25 Million Position in The Boeing Company (NYSE:BA)

Intact Investment Management Inc. reduced its stake in The Boeing Company (NYSE:BA) by 7.6% during the first quarter, HoldingsChannel reports. The firm owned 7,300 shares of the aircraft producer’s stock after selling 600 shares during the quarter. Intact Investment Management Inc.’s holdings in Boeing were worth $1,245,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BA. Revolve Wealth Partners LLC acquired a new stake in shares of Boeing in the 4th quarter valued at approximately $201,000. Bank Pictet & Cie Europe AG acquired a new stake in shares of Boeing in the 4th quarter valued at approximately $7,837,000. Transcend Capital Advisors LLC boosted its position in Boeing by 1.3% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,923 shares of the aircraft producer’s stock worth $871,000 after buying an additional 61 shares during the period. TCW Group Inc. acquired a new stake in Boeing during the 4th quarter worth approximately $2,833,000. Finally, Howard Capital Management Inc. boosted its position in Boeing by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 3,576 shares of the aircraft producer’s stock worth $633,000 after buying an additional 180 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on BA shares. Sanford C. Bernstein upgraded shares of 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 research report on Monday, April 28th. Susquehanna reiterated a “positive” rating and set a $240.00 target price (up from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Citigroup reiterated a “buy” rating on shares of Boeing in a research report on Thursday, May 22nd. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the stock a “buy” rating in a research report on Thursday, June 12th. Finally, UBS Group lifted 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. Four analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.85.

Boeing Stock Performance

Shares of NYSE BA opened at $198.41 on Monday. The company has a market capitalization of $149.60 billion, a P/E ratio of -11.07 and a beta of 1.43. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $218.80. The company’s 50 day moving average price is $193.38 and its 200-day moving average price is $178.60.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate 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) EPS. Analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity

In other news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction 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 completion of the sale, the senior vice president now owns 13,258 shares in the company, valued at $2,734,860.24. The trade was a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the sale, the executive vice president now owns 42,513 shares of the company’s stock, valued at $7,950,356.13. This trade represents a 8.40% 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 owned by corporate 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.