Waycross Partners LLC Has $30.89 Million Stock Position in The Boeing Company (NYSE:BA)

Waycross Partners LLC lifted its stake in shares of The Boeing Company (NYSE:BA) by 43.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,120 shares of the aircraft producer’s stock after purchasing an additional 54,851 shares during the quarter. Boeing comprises 3.5% of Waycross Partners LLC’s investment portfolio, making the stock its 11th biggest holding. Waycross Partners LLC’s holdings in Boeing were worth $30,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Vestcor Inc grew its stake in Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock valued at $2,471,000 after acquiring an additional 1,195 shares during the period. KKM Financial LLC lifted its holdings in shares of Boeing by 50.8% in the 4th quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer’s stock worth $2,720,000 after purchasing an additional 5,175 shares in the last quarter. Wynn Capital LLC acquired a new stake in Boeing in the 1st quarter valued at $584,000. Advanced Portfolio Management LLC grew its position in Boeing by 182.2% in the 4th quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer’s stock valued at $2,655,000 after purchasing an additional 9,684 shares during the period. Finally, Zimmer Partners LP bought a new stake in Boeing during the 4th quarter valued at $393,736,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president directly owned 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president owned 13,258 shares of the company’s stock, valued at $2,734,860.24. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Boeing Stock Performance

NYSE BA opened at $225.03 on Thursday. The company has a market capitalization of $170.16 billion, a PE ratio of -13.63 and a beta of 1.48. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The company has a 50-day simple moving average of $216.56 and a 200 day simple moving average of $189.82.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the prior year, the firm posted ($2.90) EPS. The firm’s revenue was up 34.9% compared to the same quarter last year. As a group, analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. UBS Group set a $280.00 price target on Boeing and gave the company a “buy” rating in a research note on Wednesday, July 30th. Bank of America boosted their price objective on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Wall Street Zen lowered Boeing from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. Finally, JPMorgan Chase & Co. upped their price target on Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $228.90.

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.