The Boeing Company (NYSE:BA) Shares Acquired by Summit X LLC

Summit X LLC lifted its position in The Boeing Company (NYSE:BA) by 42.2% in the fourth quarter, HoldingsChannel reports. The firm owned 3,108 shares of the aircraft producer’s stock after buying an additional 923 shares during the period. Summit X LLC’s holdings in Boeing were worth $550,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Sierra Ocean LLC purchased a new position in Boeing during the fourth quarter worth about $26,000. Sugar Maple Asset Management LLC acquired a new stake in Boeing in the fourth quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new stake in Boeing in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in Boeing in the fourth quarter valued at approximately $28,000. Finally, HighMark Wealth Management LLC raised its holdings in Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Activity

In related 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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Boeing Price Performance

NYSE:BA opened at $154.19 on Wednesday. The firm’s fifty day moving average price is $174.00 and its 200 day moving average price is $163.83. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $196.95. The firm has a market cap of $115.65 billion, a price-to-earnings ratio of -8.42 and a beta of 1.53.

Boeing (NYSE:BA) last issued its earnings results 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 period in the prior year, the firm posted ($0.47) EPS. As a group, analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Susquehanna raised their price objective on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a report 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. UBS Group raised their price objective on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, January 29th. Finally, Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $195.16.

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.