Summit Financial LLC Grows Position in The Boeing Company (NYSE:BA)

Summit Financial LLC increased its position in The Boeing Company (NYSE:BA) by 25.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,790 shares of the aircraft producer’s stock after buying an additional 2,631 shares during the quarter. Summit Financial LLC’s holdings in Boeing were worth $2,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BA. Keynote Financial Services LLC boosted its holdings in shares of Boeing by 3.8% during the fourth quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock worth $273,000 after purchasing an additional 57 shares during the period. Chaney Capital Management Inc. raised its position in Boeing by 2.1% during the 4th quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock valued at $508,000 after purchasing an additional 58 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in Boeing by 0.6% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock worth $1,878,000 after buying an additional 59 shares during the period. Center for Financial Planning Inc. grew its position in shares of Boeing by 12.0% in the 4th quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock worth $99,000 after buying an additional 60 shares during the last quarter. Finally, Transcend Capital Advisors LLC increased its stake in shares of Boeing by 1.3% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,923 shares of the aircraft producer’s stock valued at $871,000 after buying an additional 61 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BA shares. Citigroup lifted their price target on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 10th. Melius raised shares of Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. Susquehanna increased their price target on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $195.68.

Boeing Trading Down 1.5 %

Shares of BA opened at $170.66 on Tuesday. The company has a market cap of $128.01 billion, a price-to-earnings ratio of -9.32 and a beta of 1.53. The business’s fifty day simple moving average is $173.97 and its two-hundred day simple moving average is $164.28. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $196.95.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the prior year, the firm earned ($0.47) earnings per share. As a group, research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

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.