The Boeing Company $BA is Peregrine Asset Advisers Inc.’s 10th Largest Position

Peregrine Asset Advisers Inc. grew its stake in shares of The Boeing Company (NYSE:BA) by 121.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,889 shares of the aircraft producer’s stock after purchasing an additional 18,051 shares during the quarter. Boeing makes up approximately 2.1% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 10th biggest position. Peregrine Asset Advisers Inc.’s holdings in Boeing were worth $6,891,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Boeing by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after purchasing an additional 19,615 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Boeing by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock valued at $500,247,000 after purchasing an additional 91,707 shares during the period. Swiss National Bank boosted its stake in shares of Boeing by 2.5% during the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock valued at $359,895,000 after purchasing an additional 51,700 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Boeing by 2.3% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,014,928 shares of the aircraft producer’s stock valued at $422,188,000 after purchasing an additional 46,180 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,771 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.09% of the stock is currently owned by corporate insiders.

Boeing Trading Up 0.6%

BA opened at $201.24 on Monday. The stock has a fifty day simple moving average of $220.17 and a two-hundred day simple moving average of $213.16. The company has a market cap of $152.96 billion, a price-to-earnings ratio of -14.71 and a beta of 1.47. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The business had revenue of $23.27 billion during the quarter, compared to analyst estimates of $21.61 billion. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period last year, the business posted ($10.44) EPS. On average, analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

BA has been the subject of a number of analyst reports. Barclays increased their price objective on Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. decreased their target price on Boeing from $251.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday. KGI Securities upgraded Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Jefferies Financial Group set a $255.00 target price on Boeing in a report on Tuesday, September 30th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $242.79.

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.