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

Covalis Capital LLP bought a new stake in The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,027 shares of the aircraft producer’s stock, valued at approximately $1,067,000.

Several other hedge funds also recently modified their holdings of BA. Virtu Financial LLC purchased a new stake in shares of Boeing in the third quarter valued at about $7,544,000. World Investment Advisors LLC increased its stake in shares of Boeing by 243.4% in the third quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 3,814 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Boeing by 290.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,053 shares of the aircraft producer’s stock valued at $2,593,000 after buying an additional 12,680 shares in the last quarter. Tidal Investments LLC boosted its holdings in Boeing by 2.1% in the 3rd quarter. Tidal Investments LLC now owns 38,230 shares of the aircraft producer’s stock worth $5,812,000 after buying an additional 804 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after acquiring an additional 1,055,472 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of NYSE BA opened at $161.84 on Friday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $196.95. The company has a 50 day simple moving average of $166.41 and a two-hundred day simple moving average of $164.03. The company has a market capitalization 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) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the company earned ($0.47) earnings per share. On average, analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the 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 completion of the sale, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Boeing to a “sell” rating in a research report on Saturday, April 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft increased their price objective on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Melius Research set a $204.00 target price on shares of Boeing in a report on Monday, March 24th. Finally, UBS Group raised their price objective on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.95.

About Boeing

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.