Advisor Resource Council Purchases New Holdings in The Boeing Company (NYSE:BA)

Advisor Resource Council purchased a new stake in shares of The Boeing Company (NYSE:BA) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,392 shares of the aircraft producer’s stock, valued at approximately $578,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after buying an additional 12,641,715 shares during the last quarter. Geode Capital Management LLC raised its holdings in Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after buying an additional 3,452,075 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Boeing in the fourth quarter worth about $568,000. Alyeska Investment Group L.P. purchased a new position in Boeing in the fourth quarter worth about $526,889,000. Finally, Zimmer Partners LP purchased a new position in Boeing in the fourth quarter worth about $393,736,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Brendan J. Nelson sold 640 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president now owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the transaction, the executive vice president now directly owns 42,513 shares in the company, valued at $7,950,356.13. This trade represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock worth $1,511,370 over the last three months. 0.09% of the stock is currently owned by company insiders.

Boeing Trading Up 0.4%

Shares of NYSE BA opened at $198.41 on Monday. The firm has a 50 day moving average of $193.38 and a 200 day moving average of $178.60. The firm has a market capitalization of $149.60 billion, a price-to-earnings ratio of -11.07 and a beta of 1.43. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $218.80.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.13) earnings per share. Sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BA. Jefferies Financial Group lifted their target price on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a “buy” rating in a research note on Thursday, June 12th. Melius upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. Sanford C. Bernstein upgraded shares of Boeing from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $181.00 to $218.00 in a research note on Monday, April 28th. Finally, Bank of America upgraded shares of Boeing from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $260.00 in a research note on Monday, June 2nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $209.85.

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.