SeaCrest Wealth Management LLC raised its position in The Boeing Company (NYSE:BA) by 24.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,282 shares of the aircraft producer’s stock after buying an additional 1,847 shares during the period. SeaCrest Wealth Management LLC’s holdings in The Boeing were worth $1,987,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in BA. Newport Trust Co increased its stake in shares of The Boeing by 41.0% during the fourth quarter. Newport Trust Co now owns 49,550,937 shares of the aircraft producer’s stock worth $10,606,874,000 after purchasing an additional 14,409,687 shares in the last quarter. FMR LLC increased its stake in shares of The Boeing by 75.9% during the fourth quarter. FMR LLC now owns 6,095,082 shares of the aircraft producer’s stock worth $1,304,713,000 after purchasing an additional 2,629,054 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of The Boeing by 49,169.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,617,693 shares of the aircraft producer’s stock worth $432,600,000 after purchasing an additional 2,612,380 shares in the last quarter. Boston Partners purchased a new stake in shares of The Boeing during the fourth quarter worth about $397,386,000. Finally, BlackRock Inc. increased its stake in shares of The Boeing by 3.3% during the fourth quarter. BlackRock Inc. now owns 31,244,004 shares of the aircraft producer’s stock worth $6,688,091,000 after purchasing an additional 1,000,081 shares in the last quarter. 51.41% of the stock is owned by institutional investors and hedge funds.
In other The Boeing news, CEO Theodore Colbert III sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $200.80, for a total value of $1,004,000.00. Following the sale, the chief executive officer now directly owns 49,846 shares of the company’s stock, valued at approximately $10,009,076.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Timothy John Keating sold 21,737 shares of the stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $202.15, for a total transaction of $4,394,134.55. Following the completion of the sale, the executive vice president now directly owns 101,817 shares in the company, valued at $20,582,306.55. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
The Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 26th. The aircraft producer reported ($15.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.78) by ($13.47). The business had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.36 billion. During the same quarter in the previous year, the company posted ($2.33) earnings per share. The company’s revenue was down 14.6% on a year-over-year basis. Analysts predict that The Boeing Company will post -9.39 earnings per share for the current fiscal year.
BA has been the subject of a number of research reports. Berenberg Bank set a $215.00 target price on shares of The Boeing and gave the stock a “hold” rating in a research note on Wednesday, January 20th. JPMorgan Chase & Co. restated a “neutral” rating and set a $265.00 price target (up from $190.00) on shares of The Boeing in a research report on Tuesday, December 15th. Redburn Partners restated a “sell” rating on shares of The Boeing in a research report on Thursday, December 17th. The Goldman Sachs Group set a $257.00 price target on shares of The Boeing and gave the stock a “buy” rating in a research report on Tuesday, February 9th. Finally, Morgan Stanley upgraded shares of The Boeing from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $165.00 to $230.00 in a research report on Friday, January 29th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. The Boeing has a consensus rating of “Hold” and a consensus target price of $216.84.
About The Boeing
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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