West Family Investments Inc. increased its stake in shares of The Boeing Company (NYSE:BA) by 65.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,013 shares of the aircraft producer’s stock after buying an additional 9,913 shares during the period. The Boeing comprises 2.3% of West Family Investments Inc.’s portfolio, making the stock its 12th largest holding. West Family Investments Inc.’s holdings in The Boeing were worth $6,371,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Newport Trust Co grew its position in shares of The Boeing by 41.0% in the fourth quarter. Newport Trust Co now owns 49,550,937 shares of the aircraft producer’s stock valued at $10,606,874,000 after purchasing an additional 14,409,687 shares during the last quarter. BlackRock Inc. lifted its holdings in The Boeing by 1.9% in the 1st quarter. BlackRock Inc. now owns 31,851,996 shares of the aircraft producer’s stock valued at $8,113,339,000 after purchasing an additional 607,992 shares in the last quarter. Morgan Stanley boosted its stake in shares of The Boeing by 28.7% during the 4th quarter. Morgan Stanley now owns 7,508,555 shares of the aircraft producer’s stock worth $1,607,282,000 after purchasing an additional 1,673,366 shares during the last quarter. FMR LLC raised its position in shares of The Boeing by 75.9% in the fourth quarter. FMR LLC now owns 6,095,082 shares of the aircraft producer’s stock valued at $1,304,713,000 after buying an additional 2,629,054 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of The Boeing by 7.8% during the fourth quarter. Bank of New York Mellon Corp now owns 4,562,147 shares of the aircraft producer’s stock valued at $976,576,000 after buying an additional 331,409 shares during the period. 53.84% of the stock is currently owned by institutional investors and hedge funds.
BA stock traded down $1.77 during trading on Friday, reaching $246.57. The stock had a trading volume of 276,952 shares, compared to its average volume of 14,857,263. The company has a fifty day moving average of $241.47. The firm has a market capitalization of $144.20 billion, a P/E ratio of -12.00 and a beta of 1.62. The Boeing Company has a 1-year low of $141.58 and a 1-year high of $278.57.
In related news, insider Carol J. Hibbard sold 2,000 shares of the company’s stock in a transaction on Thursday, May 13th. The shares were sold at an average price of $224.97, for a total value of $449,940.00. Following the sale, the insider now directly owns 7,462 shares of the company’s stock, valued at $1,678,726.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.
Several analysts have commented on the stock. UBS Group reaffirmed a “buy” rating and issued a $310.00 target price on shares of The Boeing in a research note on Thursday, April 29th. Susquehanna lifted their price objective on The Boeing from $250.00 to $300.00 and gave the company a “positive” rating in a research report on Friday, March 19th. JPMorgan Chase & Co. raised their price target on The Boeing from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 14th. Morgan Stanley upped their price objective on shares of The Boeing from $250.00 to $274.00 and gave the company an “overweight” rating in a research note on Monday, March 22nd. Finally, Citigroup increased their price objective on shares of The Boeing from $200.00 to $240.00 and gave the stock a “neutral” rating in a report on Friday, May 21st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $252.35.
The Boeing Company Profile
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
Featured Story: What Is Dividend Yield and How Do You Calculate It?
Receive News & Ratings for The Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Boeing and related companies with MarketBeat.com's FREE daily email newsletter.