Burkehill Global Management LP Acquires Shares of 1,200,000 The Boeing Company (NYSE:BA)

Burkehill Global Management LP purchased a new position in shares of The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,200,000 shares of the aircraft producer’s stock, valued at approximately $212,400,000. Boeing comprises 20.3% of Burkehill Global Management LP’s investment portfolio, making the stock its biggest position.

Several other hedge funds also recently modified their holdings of BA. Rakuten Securities Inc. grew its stake in Boeing by 50.1% in the 4th quarter. Rakuten Securities Inc. now owns 7,362 shares of the aircraft producer’s stock valued at $1,303,000 after buying an additional 2,458 shares during the last quarter. Essential Planning LLC. acquired a new position in Boeing in the 4th quarter valued at $456,000. Securian Asset Management Inc. grew its stake in Boeing by 24.1% in the 4th quarter. Securian Asset Management Inc. now owns 40,086 shares of the aircraft producer’s stock valued at $7,095,000 after buying an additional 7,781 shares during the last quarter. Bare Financial Services Inc grew its stake in Boeing by 215.4% in the 4th quarter. Bare Financial Services Inc now owns 205 shares of the aircraft producer’s stock valued at $36,000 after buying an additional 140 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Boeing by 21.7% in the 4th quarter. Farther Finance Advisors LLC now owns 7,473 shares of the aircraft producer’s stock valued at $1,323,000 after buying an additional 1,330 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insiders Place Their Bets

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

Boeing Trading Up 3.3 %

Shares of NYSE BA opened at $159.08 on Thursday. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $196.95. The company has a market cap of $119.32 billion, a PE ratio of -8.68 and a beta of 1.53. The company has a 50-day moving average of $173.64 and a two-hundred day moving average of $163.80.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com upgraded shares of Boeing to a “sell” rating in a research report on Wednesday. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research report on Wednesday, January 29th. Citigroup raised their price target on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently 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.