Safeguard Investment Advisory Group LLC Grows Stake in The Boeing Company (NYSE:BA)

Safeguard Investment Advisory Group LLC increased its position in The Boeing Company (NYSE:BA) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,069 shares of the aircraft producer’s stock after buying an additional 167 shares during the quarter. Safeguard Investment Advisory Group LLC’s holdings in Boeing were worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares during the period. Geode Capital Management LLC raised its holdings in Boeing by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Boeing during the fourth quarter worth approximately $568,000. Alyeska Investment Group L.P. bought a new position in shares of Boeing in the fourth quarter valued at $526,889,000. Finally, Northern Trust Corp increased its holdings in shares of Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after buying an additional 1,634,231 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

Shares of NYSE BA opened at $205.88 on Friday. The company’s 50 day simple moving average is $171.81 and its 200 day simple moving average is $168.55. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $209.66. The firm has a market capitalization of $155.23 billion, a P/E ratio of -11.24 and a beta of 1.41.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wells Fargo & Company reiterated an “underweight” rating and set a $140.00 price objective (up from $111.00) on shares of Boeing in a research report on Wednesday, April 23rd. Benchmark decreased their price objective on shares of Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a report on Monday, April 21st. Sanford C. Bernstein upgraded shares of Boeing from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $181.00 to $218.00 in a report on Monday, April 28th. StockNews.com lowered shares of Boeing from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.35.

Insider Activity at Boeing

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the transaction, the executive vice president now directly owns 20,513 shares in the company, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This trade represents a 14.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,263 shares of company stock worth $1,950,150. Insiders own 0.09% of the company’s stock.

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.