The Boeing Company (NYSE:BA) Shares Purchased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. grew its stake in shares of The Boeing Company (NYSE:BA) by 22.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,284 shares of the aircraft producer’s stock after purchasing an additional 1,355 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Boeing were worth $1,289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sierra Ocean LLC acquired a new position in Boeing during the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of Boeing during the fourth quarter worth $27,000. Fiduciary Advisors Inc. purchased a new position in shares of Boeing in the fourth quarter valued at $28,000. HighMark Wealth Management LLC grew its holdings in Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after purchasing an additional 90 shares in the last quarter. Finally, Anfield Capital Management LLC increased its stake in Boeing by 113.1% during the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BA. UBS Group upped their price objective on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Citigroup lifted their price objective on Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Susquehanna increased their target price on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Finally, Melius Research set a $204.00 price target on shares of Boeing in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $196.00.

Insider Buying and Selling

In related 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $156.73 on Thursday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $196.95. The firm has a fifty day moving average of $167.15 and a 200-day moving average of $163.91. The company has a market cap of $117.56 billion, a price-to-earnings ratio of -8.56 and a beta of 1.24.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the company posted ($0.47) EPS. Analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Boeing Company 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.