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

Adero Partners LLC lifted its position in The Boeing Company (NYSE:BA) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,475 shares of the aircraft producer’s stock after buying an additional 76 shares during the quarter. Adero Partners LLC’s holdings in Boeing were worth $422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Revolve Wealth Partners LLC purchased a new stake in Boeing in the fourth quarter valued at approximately $201,000. Allspring Global Investments Holdings LLC raised its stake in Boeing by 38.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 98,456 shares of the aircraft producer’s stock valued at $16,922,000 after purchasing an additional 27,366 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Boeing in the fourth quarter valued at approximately $7,837,000. Nations Financial Group Inc. IA ADV raised its stake in Boeing by 88.9% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 7,639 shares of the aircraft producer’s stock valued at $1,352,000 after purchasing an additional 3,594 shares in the last quarter. Finally, Ellis Investment Partners LLC raised its stake in Boeing by 10.2% in the fourth quarter. Ellis Investment Partners LLC now owns 2,907 shares of the aircraft producer’s stock valued at $515,000 after purchasing an additional 270 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BA shares. TD Securities downgraded shares of Boeing to a “cautious” rating in a research note on Thursday, May 22nd. Citigroup reaffirmed a “buy” rating on shares of Boeing in a research note on Thursday, May 22nd. Benchmark reduced their price target on shares of Boeing from $250.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. UBS Group increased their price target 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, Melius upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research report on Monday, March 24th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.85.

Boeing Stock Down 1.7%

Shares of BA stock opened at $200.21 on Monday. The stock has a fifty day moving average of $188.93 and a 200 day moving average of $177.11. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80. The firm has a market capitalization of $150.96 billion, a price-to-earnings ratio of -10.93 and a beta of 1.43.

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

Insider Buying and Selling

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the transaction, the executive vice president now directly owns 20,513 shares of the company’s stock, valued at $4,161,472.31. This trade represents a 13.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the sale, the senior vice president now owns 13,258 shares in the company, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock valued at $1,511,370 over the last quarter. 0.09% of the stock is owned by company insiders.

Boeing 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.