Greenleaf Trust Grows Stock Position in The Boeing Company (NYSE:BA)

Greenleaf Trust lifted its position in The Boeing Company (NYSE:BA) by 29.0% during the first quarter, HoldingsChannel.com reports. The fund owned 10,333 shares of the aircraft producer’s stock after acquiring an additional 2,323 shares during the period. Greenleaf Trust’s holdings in Boeing were worth $1,762,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of 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 last quarter. Geode Capital Management LLC grew its stake in Boeing by 29.5% during the 4th 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. Castlekeep Investment Advisors LLC acquired a new stake in Boeing in the 4th quarter valued at about $568,000. Alyeska Investment Group L.P. purchased a new position in Boeing in the 4th quarter worth approximately $526,889,000. Finally, Zimmer Partners LP purchased a new position in Boeing in the 4th quarter worth approximately $393,736,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BA. Redburn Atlantic upgraded Boeing from a “hold” rating to a “strong-buy” rating and upped their price target for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Jefferies Financial Group upped their target price on Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. TD Securities cut shares of Boeing to a “cautious” rating in a research report on Thursday, May 22nd. Cowen reissued a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada reaffirmed a “cautious” rating on shares of Boeing in a research note on Thursday, June 12th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $216.32.

Boeing Stock Up 3.6%

NYSE:BA opened at $226.45 on Thursday. The stock’s fifty day moving average is $204.45 and its two-hundred day moving average is $182.30. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $230.20. The stock has a market capitalization of $170.75 billion, a price-to-earnings ratio of -12.64 and a beta of 1.41.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. During the same period in the previous year, the firm posted ($1.13) earnings per share. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Transactions at Boeing

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the sale, the executive vice president directly owned 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Brendan J. Nelson sold 640 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the transaction, the senior vice president owned 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by corporate insiders.

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.