259,100 Shares in The Boeing Company (NYSE:BA) Purchased by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT bought a new stake in shares of The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 259,100 shares of the aircraft producer’s stock, valued at approximately $45,861,000. Boeing makes up about 3.2% of Discovery Capital Management LLC CT’s portfolio, making the stock its 9th biggest position.

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

Boeing Stock Down 1.5 %

NYSE:BA opened at $170.66 on Tuesday. The company’s 50 day moving average is $173.97 and its 200-day moving average is $164.28. The firm has a market cap of $128.01 billion, a price-to-earnings ratio of -9.32 and a beta of 1.53. 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 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 previous year, the business earned ($0.47) EPS. Research analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Uma M. Amuluru sold 3,159 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup increased their target price on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft upped their price target on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Wells Fargo & Company raised their price objective on Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research report on Monday, March 17th. Melius Research upgraded Boeing from a “hold” rating to a “strong-buy” rating in a report on Monday, March 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research report on Wednesday, January 29th. Two research 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $195.68.

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.