Levin Capital Strategies L.P. Acquires 1,018 Shares of The Boeing Company $BA

Levin Capital Strategies L.P. raised its holdings in shares of The Boeing Company (NYSE:BA) by 13.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,333 shares of the aircraft producer’s stock after purchasing an additional 1,018 shares during the period. Levin Capital Strategies L.P.’s holdings in Boeing were worth $1,746,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BA. Vestcor Inc increased its position in Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock valued at $2,471,000 after buying an additional 1,195 shares in the last quarter. National Pension Service boosted its stake in Boeing by 19.6% during the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock valued at $227,365,000 after purchasing an additional 218,049 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Boeing during the 2nd quarter valued at $62,859,000. Kelman Lazarov Inc. purchased a new stake in Boeing during the 1st quarter valued at $262,000. Finally, Vanguard Group Inc. boosted its stake in Boeing by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mortimer J. Buckley bought 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the acquisition, the director owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on BA. Barclays increased their target price on Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of Boeing in a research note on Monday, September 29th. Citigroup reiterated a “buy” rating on shares of Boeing in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft downgraded Boeing from a “buy” rating to a “hold” rating and set a $240.00 target price on the stock. in a research note on Thursday. Finally, KGI Securities upgraded Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $241.80.

Boeing Price Performance

BA stock opened at $204.88 on Tuesday. The company has a market cap of $155.73 billion, a P/E ratio of -14.98 and a beta of 1.47. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock’s fifty day moving average price is $219.74 and its 200-day moving average price is $213.47.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The firm had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. Boeing’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($10.44) EPS. As a group, analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

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.