Minneapolis Portfolio Management Group LLC Buys Shares of 97,793 The Boeing Company (NYSE:BA)

Minneapolis Portfolio Management Group LLC purchased a new stake in The Boeing Company (NYSE:BA) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 97,793 shares of the aircraft producer’s stock, valued at approximately $17,309,000. Boeing accounts for approximately 2.3% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 24th largest position.

Other hedge funds have also modified their holdings of the company. AdvisorNet Financial Inc raised its position in shares of Boeing by 54.2% in the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after acquiring an additional 710 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after acquiring an additional 38,300 shares during the period. Carnegie Investment Counsel raised its position in shares of Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after acquiring an additional 2,943 shares during the period. Principal Financial Group Inc. raised its position in shares of Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after acquiring an additional 38,332 shares during the period. Finally, World Investment Advisors LLC raised its position in shares of Boeing by 243.4% in the 3rd quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after acquiring an additional 3,814 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

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 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 in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Susquehanna lifted their price target on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Citigroup lifted their price target on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, January 29th. Finally, StockNews.com raised shares of Boeing to a “sell” rating in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $195.68.

Boeing Trading Up 3.2 %

Shares of BA opened at $178.32 on Monday. The company has a market cap of $133.75 billion, a price-to-earnings ratio of -9.73 and a beta of 1.53. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $196.95. The company’s fifty day simple moving average is $172.98 and its 200 day simple moving average is $163.59.

Boeing (NYSE:BA) last released its quarterly earnings data 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 in the previous year, the business posted ($0.47) EPS. As a group, research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

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.