Hoey Investments Inc. Boosts Holdings in The Boeing Company (NYSE:BA)

Hoey Investments Inc. lifted its holdings in shares of The Boeing Company (NYSE:BA) by 248.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,530 shares of the aircraft producer’s stock after purchasing an additional 1,091 shares during the period. Hoey Investments Inc.’s holdings in Boeing were worth $271,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Boeing by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after acquiring an additional 12,641,715 shares during the last quarter. State Street Corp increased 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 buying an additional 636,594 shares during the period. Geode Capital Management LLC raised its holdings in Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after buying an additional 320,415 shares during the last quarter. Fisher Asset Management LLC boosted its position in Boeing by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after buying an additional 164,042 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Boeing by 30.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock worth $739,585,000 after acquiring an additional 981,796 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Boeing stock opened at $172.98 on Monday. The Boeing Company has a one year low of $137.03 and a one year high of $196.95. The stock has a fifty day moving average of $173.98 and a 200 day moving average of $164.22. The stock has a market cap of $129.74 billion, a PE ratio of -9.44 and a beta of 1.53.

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 in the previous year, the firm earned ($0.47) EPS. As a group, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BA shares. Wells Fargo & Company increased their target price on shares of Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a report on Monday, March 17th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Melius Research upgraded Boeing from a “hold” rating to a “strong-buy” rating in a report on Monday, March 24th. Susquehanna lifted their price target on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.68.

Insiders Place Their Bets

In other 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 completion of the sale, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. This represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.