Checchi Capital Advisers LLC Boosts Stock Position in The Boeing Company (NYSE:BA)

Checchi Capital Advisers LLC grew its holdings in The Boeing Company (NYSE:BA) by 18.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,884 shares of the aircraft producer’s stock after acquiring an additional 1,057 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Boeing were worth $1,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Van ECK Associates Corp boosted its stake in shares of Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares during the last quarter. State Street Corp boosted its stake in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Boeing by 17.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,921,417 shares of the aircraft producer’s stock worth $694,091,000 after acquiring an additional 581,987 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Down 2.9 %

Shares of Boeing stock opened at $173.02 on Thursday. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $208.10. The business’s fifty day simple moving average is $176.99 and its 200-day simple moving average is $164.61. The firm has a market cap of $129.77 billion, a PE ratio of -9.44 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the business earned ($0.47) earnings per share. As a group, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Susquehanna lifted their price target on Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. UBS Group lifted their price target on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Wells Fargo & Company boosted their price objective on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $195.16.

Insider Activity at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the business’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 sale, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

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.