Peregrine Asset Advisers Inc. Increases Stake in The Boeing Company (NYSE:BA)

Peregrine Asset Advisers Inc. increased its position in shares of The Boeing Company (NYSE:BA) by 55.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,235 shares of the aircraft producer’s stock after buying an additional 800 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Boeing were worth $396,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Capital Advisory Group Advisory Services LLC acquired a new stake in Boeing in the fourth quarter valued at $426,000. Transcend Capital Advisors LLC increased its holdings in shares of Boeing by 1.3% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,923 shares of the aircraft producer’s stock valued at $871,000 after acquiring an additional 61 shares during the last quarter. Cassaday & Co Wealth Management LLC increased its holdings in shares of Boeing by 19.8% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 3,286 shares of the aircraft producer’s stock valued at $582,000 after acquiring an additional 543 shares during the last quarter. Kentucky Retirement Systems raised its position in shares of Boeing by 23.1% during the 4th quarter. Kentucky Retirement Systems now owns 50,213 shares of the aircraft producer’s stock worth $8,888,000 after acquiring an additional 9,434 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV lifted its stake in Boeing by 3.5% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 8,877 shares of the aircraft producer’s stock worth $1,571,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA stock opened at $177.34 on Friday. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $208.10. The firm’s 50-day simple moving average is $176.74 and its 200-day simple moving average is $164.39. The firm has a market cap of $133.01 billion, a P/E ratio of -9.68 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly 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 firm earned ($0.47) EPS. Analysts expect that The Boeing Company will post -2.32 earnings per share for the current fiscal year.

Insider Activity at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the 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 of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on BA. 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. Citigroup lifted their price target on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Wells Fargo & Company boosted their price target on shares of Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Finally, Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.16.

Boeing 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.