Summit Financial LLC Increases Stake in The Boeing Company (NYSE:BA)

Summit Financial LLC raised its holdings in shares of The Boeing Company (NYSE:BA) by 25.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,790 shares of the aircraft producer’s stock after acquiring an additional 2,631 shares during the quarter. Summit Financial LLC’s holdings in Boeing were worth $2,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Public Sector Pension Investment Board raised its stake in Boeing by 17.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 25,590 shares of the aircraft producer’s stock worth $3,891,000 after acquiring an additional 3,800 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Boeing by 12.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,239 shares of the aircraft producer’s stock valued at $2,773,000 after purchasing an additional 1,956 shares during the period. Tradition Wealth Management LLC lifted its stake in shares of Boeing by 20.7% during the 3rd quarter. Tradition Wealth Management LLC now owns 2,156 shares of the aircraft producer’s stock valued at $328,000 after buying an additional 370 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Boeing in the 3rd quarter worth $636,000. Finally, Benjamin Edwards Inc. boosted its holdings in Boeing by 209.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 13,864 shares of the aircraft producer’s stock worth $2,108,000 after buying an additional 9,381 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of Boeing stock opened at $170.66 on Tuesday. The stock has a market cap of $128.01 billion, a price-to-earnings ratio of -9.32 and a beta of 1.53. The stock has a 50 day moving average price of $173.97 and a 200-day moving average price of $164.28. The Boeing Company has a one year low of $137.03 and a one year high of $196.95.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 quarter last year, the company posted ($0.47) EPS. Sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on BA shares. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Melius raised Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. StockNews.com raised shares of Boeing to a “sell” rating in a report on Wednesday, March 12th. UBS Group lifted their price objective on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Citigroup upped their target price on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.68.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is 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 Commercial Airplanes; Defense, Space & Security; and Global Services segments.