Picton Mahoney Asset Management Boosts Holdings in The Boeing Company (NYSE:BA)

Picton Mahoney Asset Management lifted its stake in The Boeing Company (NYSE:BA) by 83.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,081 shares of the aircraft producer’s stock after buying an additional 36,861 shares during the period. Picton Mahoney Asset Management’s holdings in Boeing were worth $13,829,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the period. Northern Trust Corp lifted its stake in shares of Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock worth $1,151,316,000 after acquiring an additional 1,634,231 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in shares of Boeing in the 4th quarter worth $568,000. Alyeska Investment Group L.P. acquired a new stake in shares of Boeing in the 4th quarter worth $526,889,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Boeing by 14.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer’s stock worth $502,933,000 after acquiring an additional 369,306 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on BA shares. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the stock a “buy” rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. raised their target price on shares of Boeing from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. UBS Group raised their target price on shares of Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Jefferies Financial Group raised their target price on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Boeing in a research note on Monday, July 14th. Four research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average price target of $221.55.

Boeing Stock Performance

BA opened at $236.40 on Tuesday. The company’s 50 day simple moving average is $213.63 and its 200 day simple moving average is $187.41. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $236.63. The stock has a market capitalization of $178.25 billion, a PE ratio of -13.19 and a beta of 1.41.

Insider Buying and Selling 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 shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the transaction, the executive vice president directly owned 20,513 shares of the company’s stock, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $729,151.99. Following the transaction, the executive vice president directly owned 42,513 shares in the company, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. 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 over the last ninety days. Corporate 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.