Verus Capital Partners LLC Boosts Stake in The Boeing Company (NYSE:BA)

Verus Capital Partners LLC raised its position in The Boeing Company (NYSE:BA) by 13.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,878 shares of the aircraft producer’s stock after purchasing an additional 2,189 shares during the quarter. Verus Capital Partners LLC’s holdings in Boeing were worth $3,341,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp lifted its position in Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after acquiring an additional 1,055,472 shares during the period. State Street Corp lifted its holdings in shares of Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares in the last quarter. Jennison Associates LLC boosted its position in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Boeing by 17.4% in the 4th quarter. Bank of New York Mellon Corp now owns 3,921,417 shares of the aircraft producer’s stock valued at $694,091,000 after purchasing an additional 581,987 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Up 0.4 %

Shares of BA stock opened at $173.65 on Friday. The business has a 50 day moving average of $176.92 and a two-hundred day moving average of $164.67. The company has a market cap of $130.25 billion, a P/E ratio of -9.48 and a beta of 1.52. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $208.10.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the company posted ($0.47) earnings per share. Analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

BA has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Susquehanna upped their price target on Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Citigroup lifted their price objective on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company lifted their price target on shares of Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $195.16.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% 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.