Edgestream Partners L.P. Purchases Shares of 39,086 The Boeing Company (NYSE:BA)

Edgestream Partners L.P. acquired a new stake in The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 39,086 shares of the aircraft producer’s stock, valued at approximately $6,918,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. West Family Investments Inc. purchased a new position in Boeing during the 4th quarter valued at about $416,000. Blue Bell Private Wealth Management LLC grew its position in shares of Boeing by 96.1% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 457 shares of the aircraft producer’s stock worth $81,000 after buying an additional 224 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Boeing during the fourth quarter valued at approximately $513,000. Callan Family Office LLC bought a new position in shares of Boeing during the fourth quarter valued at approximately $884,000. Finally, Hartford Funds Management Co LLC purchased a new stake in Boeing in the fourth quarter worth $444,000. 64.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on BA shares. Wells Fargo & Company boosted their price objective on shares of Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft boosted their price target 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. Citigroup raised their price objective on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were 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 $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

Boeing Stock Performance

NYSE:BA opened at $158.52 on Friday. The firm has a 50-day simple moving average of $175.56 and a two-hundred day simple moving average of $164.45. The firm has a market cap of $118.90 billion, a P/E ratio of -8.65 and a beta of 1.52. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $203.80.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the prior year, the company earned ($0.47) EPS. On average, equities research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

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.