3,970 Shares in The Boeing Company (NYSE:BA) Purchased by FourThought Financial Partners LLC

FourThought Financial Partners LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,970 shares of the aircraft producer’s stock, valued at approximately $703,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its position in Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares in the last quarter. Franklin Resources Inc. grew its position in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares in the last quarter. State Street Corp grew its position in Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Jennison Associates LLC grew its position in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Boeing by 17.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,921,417 shares of the aircraft producer’s stock worth $694,091,000 after purchasing an additional 581,987 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 0.9 %

NYSE BA opened at $178.36 on Wednesday. The stock has a market cap of $133.78 billion, a P/E ratio of -9.74 and a beta of 1.52. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $208.10. The company’s 50-day simple moving average is $176.98 and its 200 day simple moving average is $164.55.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the business posted ($0.47) EPS. Research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on shares of Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Finally, Susquehanna lifted their price objective on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $195.16.

About Boeing

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.