Shaolin Capital Management LLC Makes New Investment in The Boeing Company (NYSE:BA)

Shaolin Capital Management LLC purchased a new position in shares of The Boeing Company (NYSE:BA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 196,980 shares of the aircraft producer’s stock, valued at approximately $34,865,000. Boeing makes up about 0.7% of Shaolin Capital Management LLC’s holdings, making the stock its 24th biggest holding.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Boeing by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares during the last quarter. Geode Capital Management LLC increased its position in Boeing by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Fisher Asset Management LLC raised its stake in Boeing by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock worth $890,469,000 after purchasing an additional 164,042 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Boeing by 30.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after purchasing an additional 981,796 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Boeing by 17.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,921,417 shares of the aircraft producer’s stock valued at $694,091,000 after buying an additional 581,987 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on BA shares. Benchmark dropped their price target on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Citigroup lifted their price target on shares of Boeing from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com raised shares of Boeing to a “sell” rating in a research report on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $198.45.

Insider Activity at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the business’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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Performance

BA opened at $177.92 on Friday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $196.95. The company has a 50-day moving average of $164.87 and a 200-day moving average of $164.69. The company has a market capitalization of $133.46 billion, a P/E ratio of -9.71 and a beta of 1.24.

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 the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. As a group, sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

About Boeing

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.