Everhart Financial Group Inc. Increases Position in The Boeing Company (NYSE:BA)

Everhart Financial Group Inc. increased its position in The Boeing Company (NYSE:BA) by 31.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,961 shares of the aircraft producer’s stock after acquiring an additional 957 shares during the period. Everhart Financial Group Inc.’s holdings in Boeing were worth $676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new stake in shares of Boeing in the fourth quarter worth about $201,000. Allspring Global Investments Holdings LLC grew its stake in shares of Boeing by 38.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 98,456 shares of the aircraft producer’s stock worth $16,922,000 after purchasing an additional 27,366 shares during the period. Avestar Capital LLC increased its holdings in shares of Boeing by 43.9% during the 4th quarter. Avestar Capital LLC now owns 2,926 shares of the aircraft producer’s stock valued at $518,000 after purchasing an additional 893 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Boeing by 17.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 374,851 shares of the aircraft producer’s stock valued at $67,743,000 after purchasing an additional 55,748 shares during the period. Finally, IMS Capital Management boosted its holdings in Boeing by 8.4% during the fourth quarter. IMS Capital Management now owns 17,377 shares of the aircraft producer’s stock worth $3,076,000 after buying an additional 1,345 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA stock opened at $200.21 on Friday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $218.80. The company has a 50 day moving average price of $188.93 and a 200 day moving average price of $176.77. The stock has a market capitalization of $150.96 billion, a P/E ratio of -10.93 and a beta of 1.43.

Boeing (NYSE:BA) last released its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.57 billion. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.13) earnings per share. On average, research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BA shares. Royal Bank of Canada lifted their price target on Boeing from $200.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, June 9th. Wall Street Zen downgraded Boeing from a “hold” rating to a “sell” rating in a research note on Saturday, May 17th. Morgan Stanley reiterated an “equal weight” rating and issued a $200.00 price objective on shares of Boeing in a report on Thursday. Susquehanna reaffirmed a “positive” rating and set a $240.00 target price (up previously from $205.00) on shares of Boeing in a report on Wednesday, May 14th. Finally, Bank of America upgraded Boeing from a “neutral” rating to a “buy” rating and upped their target price for the company from $185.00 to $260.00 in a report on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boeing has an average rating of “Moderate Buy” and an average target price of $209.85.

Insider Activity

In related news, SVP Brendan J. Nelson sold 640 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the sale, the senior vice president now directly owns 13,258 shares of the company’s stock, valued at $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the transaction, the executive vice president now directly owns 42,513 shares in the company, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is currently owned by corporate insiders.

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.