ProShare Advisors LLC Increases Stake in The Boeing Company (NYSE:BA)

ProShare Advisors LLC raised its stake in shares of The Boeing Company (NYSE:BA) by 47.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,415 shares of the aircraft producer’s stock after buying an additional 82,832 shares during the quarter. ProShare Advisors LLC’s holdings in Boeing were worth $45,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its position in shares of Boeing by 54.2% during 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 last quarter. Accurate Wealth Management LLC bought a new position in shares of Boeing during the 4th quarter valued at approximately $204,000. SeaCrest Wealth Management LLC boosted its position in shares of Boeing by 15.1% during the 4th quarter. SeaCrest Wealth Management LLC now owns 3,559 shares of the aircraft producer’s stock valued at $630,000 after acquiring an additional 467 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Boeing by 15.1% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,860 shares of the aircraft producer’s stock valued at $506,000 after acquiring an additional 375 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its position in shares of Boeing by 28.5% during the 4th quarter. Kathmere Capital Management LLC now owns 1,923 shares of the aircraft producer’s stock valued at $340,000 after acquiring an additional 426 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president now directly owns 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Uma M. Amuluru sold 3,159 shares of the firm’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 of the company’s stock, valued at $3,471,596.97. The trade was a 14.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,263 shares of company stock worth $1,950,150. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on BA. JPMorgan Chase & Co. increased their target price on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com upgraded Boeing from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Morgan Stanley raised their price target on Boeing from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Susquehanna restated a “positive” rating and issued a $240.00 price target (up from $205.00) on shares of Boeing in a research report on Wednesday. Finally, Melius upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.60.

Boeing Trading Up 0.7%

Shares of Boeing stock opened at $206.20 on Friday. The firm has a market cap of $155.48 billion, a P/E ratio of -11.26 and a beta of 1.41. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $209.66. The stock’s fifty day moving average price is $170.78 and its 200-day moving average price is $168.18.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.57 billion. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.13) EPS. Analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

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.