PCG Asset Management LLC Takes $342,000 Position in The Boeing Company (NYSE:BA)

PCG Asset Management LLC purchased a new position in shares of The Boeing Company (NYSE:BA) in the 4th quarter, Holdings Channel reports. The fund purchased 1,933 shares of the aircraft producer’s stock, valued at approximately $342,000.

A number of other large investors have also modified their holdings of BA. Levin Capital Strategies L.P. raised its stake in Boeing by 9.3% during the 4th quarter. Levin Capital Strategies L.P. now owns 15,327 shares of the aircraft producer’s stock valued at $2,713,000 after acquiring an additional 1,304 shares in the last quarter. Heritage Wealth Management Inc. grew its stake in shares of Boeing by 127.4% in the fourth quarter. Heritage Wealth Management Inc. now owns 5,592 shares of the aircraft producer’s stock worth $990,000 after purchasing an additional 3,133 shares in the last quarter. Anfield Capital Management LLC increased its holdings in shares of Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after purchasing an additional 95 shares during the period. Metis Global Partners LLC raised its stake in shares of Boeing by 32.9% during the fourth quarter. Metis Global Partners LLC now owns 24,854 shares of the aircraft producer’s stock valued at $4,399,000 after purchasing an additional 6,153 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Boeing by 6.0% in the fourth quarter. US Bancorp DE now owns 246,545 shares of the aircraft producer’s stock worth $43,638,000 after purchasing an additional 13,896 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Up 0.6 %

BA opened at $174.84 on Friday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $206.62. The firm has a market capitalization of $131.14 billion, a P/E ratio of -9.54 and a beta of 1.52. The stock has a fifty day moving average of $176.87 and a 200-day moving average of $164.71.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the business posted ($0.47) earnings per share. On average, analysts expect that The Boeing Company will post -2.58 earnings per share 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 on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group raised their target price on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Two equities 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 assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.