Zurich Insurance Group Ltd FI Invests $67.83 Million in The Boeing Company (NYSE:BA)

Zurich Insurance Group Ltd FI acquired a new stake in The Boeing Company (NYSE:BA) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 383,237 shares of the aircraft producer’s stock, valued at approximately $67,833,000.

Other large investors have also bought and sold shares of the company. Amundi boosted its stake in Boeing by 473.6% during the 4th quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock worth $268,862,000 after acquiring an additional 1,292,417 shares during the last quarter. KKM Financial LLC boosted its position in shares of Boeing by 50.8% during the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer’s stock worth $2,720,000 after purchasing an additional 5,175 shares in the last quarter. Grant Private Wealth Management Inc bought a new position in shares of Boeing during the fourth quarter worth $903,000. Tandem Capital Management Corp ADV grew its holdings in shares of Boeing by 65.2% in the 4th quarter. Tandem Capital Management Corp ADV now owns 13,815 shares of the aircraft producer’s stock valued at $2,445,000 after buying an additional 5,451 shares during the period. Finally, Winslow Asset Management Inc. increased its position in shares of Boeing by 8.2% in the 4th quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer’s stock valued at $7,215,000 after buying an additional 3,096 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This trade represents a 14.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president now directly owns 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,903 shares of company stock worth $2,082,169. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BA shares. JPMorgan Chase & Co. lifted their target price on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, April 23rd. Morgan Stanley reissued a “positive” rating on shares of Boeing in a research note on Friday. Sanford C. Bernstein raised shares of Boeing from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $181.00 to $218.00 in a research note on Monday, April 28th. Finally, Melius Research set a $204.00 price target on shares of Boeing in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.35.

Boeing Price Performance

Shares of BA stock opened at $205.21 on Tuesday. The stock has a market cap of $154.73 billion, a P/E ratio of -11.20 and a beta of 1.41. The company has a fifty day moving average price of $172.73 and a two-hundred day moving average price of $169.14. The Boeing Company has a one year low of $128.88 and a one year high of $209.66.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates 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 business earned ($1.13) EPS. As a group, equities research analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal 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.