Summit Global Investments Increases Stake in The Boeing Company (NYSE:BA)

Summit Global Investments grew its stake in The Boeing Company (NYSE:BA) by 47.9% during the 4th quarter, HoldingsChannel reports. The firm owned 2,385 shares of the aircraft producer’s stock after buying an additional 772 shares during the quarter. Summit Global Investments’ holdings in Boeing were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mindset Wealth Management LLC acquired a new stake in Boeing during the fourth quarter valued at $210,000. Wayfinding Financial LLC acquired a new stake in shares of Boeing during the 4th quarter valued at about $1,416,000. Lee Danner & Bass Inc. increased its stake in shares of Boeing by 10.0% in the 4th quarter. Lee Danner & Bass Inc. now owns 27,736 shares of the aircraft producer’s stock valued at $4,909,000 after purchasing an additional 2,514 shares in the last quarter. DCF Advisers LLC raised its holdings in Boeing by 68.7% in the 4th quarter. DCF Advisers LLC now owns 7,000 shares of the aircraft producer’s stock worth $1,239,000 after purchasing an additional 2,850 shares during the period. Finally, RWQ Financial Management Services Inc. purchased a new position in Boeing during the fourth quarter worth approximately $3,394,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Transactions at Boeing

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 transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Boeing Stock Up 1.6 %

Shares of NYSE:BA opened at $180.90 on Tuesday. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $196.95. The business has a fifty day moving average of $173.19 and a two-hundred day moving average of $163.72. The stock has a market cap of $135.69 billion, a P/E ratio of -9.87 and a beta of 1.53.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the business posted ($0.47) EPS. On average, equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BA shares. Susquehanna boosted their price objective on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a research note on Monday, March 17th. Melius upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Finally, Citigroup upped their price target on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average target price of $195.68.

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.