Putnam Investments LLC increased its position in shares of The Boeing Company (NYSE:BA – Free Report) by 100.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,450 shares of the aircraft producer’s stock after purchasing an additional 14,232 shares during the quarter. Putnam Investments LLC’s holdings in Boeing were worth $6,044,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in BA. Sterling Investment Advisors Ltd. raised its stake in shares of Boeing by 12.6% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,791 shares of the aircraft producer’s stock worth $380,000 after purchasing an additional 200 shares during the period. Investment Management of Virginia LLC purchased a new stake in Boeing during the first quarter worth about $216,000. Aureus Asset Management LLC bought a new stake in Boeing in the fourth quarter worth about $2,690,000. Trust Co. of Vermont raised its position in Boeing by 7.6% in the first quarter. Trust Co. of Vermont now owns 3,844 shares of the aircraft producer’s stock worth $817,000 after acquiring an additional 272 shares during the period. Finally, GPS Wealth Strategies Group LLC purchased a new position in Boeing in the first quarter valued at about $324,000. 61.33% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Boeing from $250.00 to $270.00 in a report on Tuesday, August 8th. Susquehanna reaffirmed a “positive” rating and set a $270.00 price target on shares of Boeing in a research report on Wednesday. Bank of America raised Boeing from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $225.00 to $300.00 in a report on Thursday, July 27th. JPMorgan Chase & Co. upped their price objective on shares of Boeing from $225.00 to $245.00 in a report on Thursday, July 27th. Finally, Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average price target of $245.13.
Boeing Stock Down 0.4 %
Boeing stock opened at $208.11 on Friday. The business has a 50-day simple moving average of $223.54 and a 200 day simple moving average of $213.03. The Boeing Company has a 52 week low of $120.99 and a 52 week high of $243.10. The stock has a market cap of $125.20 billion, a price-to-earnings ratio of -27.79 and a beta of 1.43.
Boeing (NYSE:BA – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($0.99) by $0.17. The company had revenue of $19.75 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter last year, the company posted ($0.37) earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, research analysts anticipate that The Boeing Company will post -2.6 earnings per share for the current year.
Insider Transactions at Boeing
In related news, CEO Theodore Colbert III sold 8,500 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total value of $2,026,145.00. Following the transaction, the chief executive officer now owns 59,255 shares of the company’s stock, valued at $14,124,614.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Boeing news, CEO Theodore Colbert III sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total value of $2,026,145.00. Following the completion of the sale, the chief executive officer now owns 59,255 shares of the company’s stock, valued at $14,124,614.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven M. Mollenkopf purchased 850 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were acquired at an average cost of $237.00 per share, for a total transaction of $201,450.00. Following the completion of the purchase, the director now directly owns 3,767 shares of the company’s stock, valued at approximately $892,779. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by insiders.
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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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