Aureus Asset Management LLC Buys Shares of 14,124 The Boeing Company (NYSE:BA)

Posted by on Jun 14th, 2023

Aureus Asset Management LLC bought a new stake in shares of The Boeing Company (NYSE:BA – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,124 shares of the aircraft producer’s stock, valued at approximately $2,690,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Avalon Investment & Advisory grew its holdings in Boeing by 2.7% during the 4th quarter. Avalon Investment & Advisory now owns 1,884 shares of the aircraft producer’s stock valued at $359,000 after buying an additional 49 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Boeing by 7.7% during the fourth quarter. Financial Management Professionals Inc. now owns 701 shares of the aircraft producer’s stock worth $134,000 after purchasing an additional 50 shares in the last quarter. Secure Asset Management LLC grew its holdings in shares of Boeing by 2.9% during the fourth quarter. Secure Asset Management LLC now owns 1,792 shares of the aircraft producer’s stock worth $341,000 after purchasing an additional 50 shares in the last quarter. Ervin Investment Management LLC grew its holdings in shares of Boeing by 1.5% during the fourth quarter. Ervin Investment Management LLC now owns 3,305 shares of the aircraft producer’s stock worth $630,000 after purchasing an additional 50 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its holdings in shares of Boeing by 0.9% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 5,596 shares of the aircraft producer’s stock worth $1,066,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 57.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Howard E. Mckenzie sold 412 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $204.36, for a total value of $84,196.32. Following the completion of the sale, the executive vice president now owns 17,181 shares of the company’s stock, valued at $3,511,109.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BA. Credit Suisse Group boosted their price objective on Boeing from $200.00 to $220.00 in a report on Monday, April 10th. Royal Bank of Canada cut their price objective on Boeing from $225.00 to $220.00 in a report on Thursday, April 27th. JPMorgan Chase & Co. set a $225.00 target price on Boeing in a research report on Friday, February 24th. 888 restated a “maintains” rating on shares of Boeing in a research report on Thursday, April 27th. Finally, StockNews.com upgraded Boeing from a “sell” rating to a “hold” rating in a research report on Thursday, June 8th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $221.60.

Boeing Stock Performance

Shares of BA stock opened at $220.39 on Wednesday. The Boeing Company has a fifty-two week low of $113.02 and a fifty-two week high of $223.91. The stock has a 50 day moving average price of $206.48 and a two-hundred day moving average price of $203.23. The company has a market capitalization of $132.58 billion, a P/E ratio of -31.85 and a beta of 1.42.

Boeing (NYSE:BA – Get Rating) last announced its earnings results on Wednesday, April 26th. The aircraft producer reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.29). The company had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.56 billion. During the same period in the previous year, the company posted ($2.75) EPS. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post -0.73 earnings per share for the current year.

Boeing Profile

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The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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