Rinkey Investments Purchases New Position in The Boeing Company (NYSE:BA)

Rinkey Investments acquired a new stake in shares of The Boeing Company (NYSE:BA) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,170 shares of the aircraft producer’s stock, valued at approximately $207,000.

Several other institutional investors have also recently made changes to their positions in BA. AdvisorNet Financial Inc increased its holdings in shares of Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after purchasing an additional 710 shares during the last quarter. Carnegie Investment Counsel lifted its position in shares of Boeing by 175.6% during the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 2,943 shares during the last quarter. Principal Financial Group Inc. grew its stake in Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares in the last quarter. World Investment Advisors LLC increased its holdings in Boeing by 243.4% during the 3rd quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 3,814 shares during the period. Finally, Amundi lifted its stake in Boeing by 473.6% in the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock worth $268,862,000 after acquiring an additional 1,292,417 shares during the period. Institutional investors own 64.82% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the transaction, the executive vice president now directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Up 0.9 %

BA stock opened at $177.92 on Friday. The stock has a market capitalization of $133.46 billion, a P/E ratio of -9.71 and a beta of 1.24. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $196.95. The firm has a 50-day simple moving average of $164.87 and a 200-day simple moving average of $164.59.

Boeing (NYSE:BA) last released its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion. On average, analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on BA. Susquehanna boosted their price target on Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Morgan Stanley lifted their price objective on shares of Boeing from $175.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday. Benchmark lowered their target price on Boeing from $250.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Finally, Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average price target of $198.45.

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.