AssuredPartners Investment Advisors LLC Buys New Stake in The Boeing Company (NYSE:BA)

AssuredPartners Investment Advisors LLC purchased a new position in shares of The Boeing Company (NYSE:BA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,872 shares of the aircraft producer’s stock, valued at approximately $1,216,000.

A number of other institutional investors also recently bought and sold shares of the business. Penserra Capital Management LLC raised its stake in Boeing by 17.5% during the 3rd quarter. Penserra Capital Management LLC now owns 4,856 shares of the aircraft producer’s stock worth $738,000 after acquiring an additional 724 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Boeing during the third quarter worth about $58,000. Qsemble Capital Management LP increased its position in shares of Boeing by 33.5% during the third quarter. Qsemble Capital Management LP now owns 7,645 shares of the aircraft producer’s stock worth $1,162,000 after purchasing an additional 1,917 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Boeing in the 3rd quarter valued at about $1,295,000. Finally, Cadence Bank boosted its position in shares of Boeing by 5.6% in the 3rd quarter. Cadence Bank now owns 3,043 shares of the aircraft producer’s stock valued at $463,000 after purchasing an additional 162 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 2.3 %

Shares of Boeing stock opened at $178.42 on Thursday. The company has a 50-day moving average of $173.74 and a two-hundred day moving average of $164.00. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $196.95. The stock has a market cap of $133.83 billion, a PE ratio of -9.74 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 for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the firm earned ($0.47) earnings per share. On average, sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value 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 represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group boosted their price objective on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Citigroup upped their price target on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Melius upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research note on Monday. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Finally, Melius Research upgraded Boeing from a “hold” rating to a “strong-buy” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.68.

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.