Covalis Capital LLP Makes New $1.07 Million Investment in The Boeing Company (NYSE:BA)

Covalis Capital LLP acquired a new position in shares of The Boeing Company (NYSE:BA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,027 shares of the aircraft producer’s stock, valued at approximately $1,067,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Boeing by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,275,394 shares of the aircraft producer’s stock worth $225,745,000 after purchasing an additional 39,661 shares in the last quarter. First Trust Advisors LP increased its stake in Boeing by 33.8% during the 4th quarter. First Trust Advisors LP now owns 140,578 shares of the aircraft producer’s stock valued at $24,882,000 after buying an additional 35,524 shares during the period. Elevatus Welath Management bought a new position in shares of Boeing during the 4th quarter valued at about $221,000. Forum Financial Management LP grew its holdings in shares of Boeing by 6.3% in the 4th quarter. Forum Financial Management LP now owns 6,300 shares of the aircraft producer’s stock worth $1,115,000 after acquiring an additional 371 shares during the last quarter. Finally, Capital International Ltd. CA lifted its position in shares of Boeing by 49.9% in the 4th quarter. Capital International Ltd. CA now owns 40,797 shares of the aircraft producer’s stock valued at $7,221,000 after acquiring an additional 13,581 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BA shares. Melius Research set a $204.00 target price on shares of Boeing in a research note on Monday, March 24th. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Monday, March 24th. StockNews.com upgraded shares of Boeing to a “sell” rating in a research report on Saturday, April 5th. 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, JPMorgan Chase & Co. lifted their target price on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.95.

Boeing Trading Up 3.4 %

Shares of BA opened at $161.84 on Friday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $196.95. The company’s fifty day simple moving average is $166.41 and its 200 day simple moving average is $164.03. The company has a market cap of $121.39 billion, a price-to-earnings ratio of -8.83 and a beta of 1.24.

Boeing (NYSE:BA) last released 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 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.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the transaction, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

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.