Rafferty Asset Management LLC Has $30 Million Holdings in The Boeing Company (NYSE:BA)

Rafferty Asset Management LLC raised its holdings in The Boeing Company (NYSE:BA) by 104.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 169,485 shares of the aircraft producer’s stock after buying an additional 86,612 shares during the quarter. Rafferty Asset Management LLC’s holdings in Boeing were worth $29,999,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after buying an additional 12,641,715 shares during the period. Geode Capital Management LLC increased its holdings in shares of Boeing by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after acquiring an additional 3,452,075 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Boeing by 33.6% during the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after acquiring an additional 1,634,231 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Boeing by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after acquiring an additional 164,042 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Boeing by 30.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after acquiring an additional 981,796 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

In other news, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president now owns 42,513 shares of the company’s stock, valued at $7,950,356.13. This represents a 8.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president now directly owns 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,263 shares of company stock worth $1,950,150 in the last quarter. 0.09% of the stock is currently owned by company insiders.

Boeing Price Performance

Shares of NYSE:BA opened at $206.20 on Friday. The company has a market capitalization of $155.48 billion, a PE ratio of -11.26 and a beta of 1.41. The business has a fifty day moving average price of $170.78 and a two-hundred day moving average price of $168.18. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $209.66.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.13) EPS. Sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Citigroup boosted their price objective on Boeing from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company restated an “underweight” rating and set a $140.00 price objective (up previously from $111.00) on shares of Boeing in a report on Wednesday, April 23rd. Finally, StockNews.com upgraded Boeing from a “sell” rating to a “hold” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $203.60.

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.