Adero Partners LLC Increases Position in The Boeing Company (NYSE:BA)

Adero Partners LLC boosted its holdings in The Boeing Company (NYSE:BA) by 3.2% during the first quarter, Holdings Channel.com reports. The firm owned 2,475 shares of the aircraft producer’s stock after acquiring an additional 76 shares during the quarter. Adero Partners LLC’s holdings in Boeing were worth $422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sierra Ocean LLC purchased a new stake in shares of Boeing during the fourth quarter valued at approximately $26,000. American National Bank & Trust grew its holdings in shares of Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after buying an additional 128 shares during the last quarter. HighMark Wealth Management LLC grew its holdings in shares of Boeing by 121.6% during the fourth 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 during the last quarter. REAP Financial Group LLC grew its holdings in shares of Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after buying an additional 65 shares during the last quarter. Finally, Anfield Capital Management LLC grew its holdings in shares of Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BA shares. Melius Research set a $204.00 price target on shares of Boeing in a report on Monday, March 24th. Sanford C. Bernstein upgraded shares of Boeing from a “market perform” rating to an “outperform” rating and increased their price target for the company from $181.00 to $218.00 in a report on Monday, April 28th. Citigroup reiterated a “buy” rating on shares of Boeing in a report on Thursday, May 22nd. UBS Group increased their price objective on shares of Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $212.00 price objective on shares of Boeing in a research report on Thursday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.85.

Boeing Trading Down 1.7%

BA opened at $200.21 on Monday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $218.80. The company has a market capitalization of $150.96 billion, a PE ratio of -10.93 and a beta of 1.43. The firm’s 50 day simple moving average is $188.93 and its two-hundred day simple moving average is $177.11.

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

Insider Activity

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

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.