AssuredPartners Investment Advisors LLC Takes Position in The Boeing Company (NYSE:BA)

AssuredPartners Investment Advisors LLC purchased a new position in shares of The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,872 shares of the aircraft producer’s stock, valued at approximately $1,216,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new position in shares of Boeing during the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC purchased a new position in Boeing during the fourth quarter worth approximately $27,000. RPg Family Wealth Advisory LLC purchased a new position in Boeing during the third quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new position in Boeing during the fourth quarter worth $28,000. Finally, HighMark Wealth Management LLC grew its holdings in Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after buying an additional 90 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BA shares. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, January 29th. UBS Group lifted their target price on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Melius Research raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Citigroup upped their price objective on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $195.68.

Boeing Stock Performance

Shares of BA opened at $178.42 on Thursday. The company’s 50-day simple moving average is $173.74 and its 200-day simple moving average is $164.00. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $196.95. The stock has a market capitalization of $133.83 billion, a PE ratio of -9.74 and a beta of 1.53.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the business posted ($0.47) EPS. On average, sell-side analysts predict 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.