Narwhal Capital Management Boosts Stock Position in The Boeing Company (NYSE:BA)

Narwhal Capital Management lifted its position in shares of The Boeing Company (NYSE:BA) by 10.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,227 shares of the aircraft producer’s stock after buying an additional 310 shares during the period. Narwhal Capital Management’s holdings in Boeing were worth $550,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BA. Keynote Financial Services LLC boosted its holdings in shares of Boeing by 3.8% in the 4th quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock worth $273,000 after purchasing an additional 57 shares during the period. Trek Financial LLC lifted its position in Boeing by 2.7% in the fourth quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer’s stock worth $408,000 after buying an additional 60 shares during the last quarter. Colonial Trust Co SC boosted its stake in Boeing by 6.1% during the fourth quarter. Colonial Trust Co SC now owns 1,042 shares of the aircraft producer’s stock worth $184,000 after buying an additional 60 shares during the period. HBW Advisory Services LLC increased its position in Boeing by 4.3% during the first quarter. HBW Advisory Services LLC now owns 1,557 shares of the aircraft producer’s stock valued at $266,000 after acquiring an additional 64 shares during the last quarter. Finally, REAP Financial Group LLC raised its stake in shares of Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after acquiring an additional 65 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 1.3%

Shares of NYSE:BA opened at $201.38 on Tuesday. The firm has a 50 day moving average of $194.23 and a 200 day moving average of $178.93. The company has a market capitalization of $151.84 billion, a price-to-earnings ratio of -11.24 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.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.57 billion. During the same quarter last year, the company earned ($1.13) earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, sell-side analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the company’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 transaction, the executive vice president now directly owns 20,513 shares of the company’s stock, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Christopher Raymond sold 3,899 shares of the firm’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 directly owns 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,744 shares of company stock valued at $1,511,370 in the last 90 days. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Cowen reiterated a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Melius raised Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a “buy” rating in a report on Thursday, June 12th. Sanford C. Bernstein upgraded Boeing from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $181.00 to $218.00 in a report on Monday, April 28th. Finally, TD Securities lowered Boeing to a “cautious” rating in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $209.85.

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.