Kayne Anderson Rudnick Investment Management LLC Purchases 105 Shares of The Boeing Company (NYSE:BA)

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in The Boeing Company (NYSE:BA) by 122.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191 shares of the aircraft producer’s stock after acquiring an additional 105 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Boeing were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BA. MetLife Investment Management LLC increased its holdings in Boeing by 29.3% in the fourth quarter. MetLife Investment Management LLC now owns 202,281 shares of the aircraft producer’s stock worth $35,804,000 after purchasing an additional 45,803 shares in the last quarter. Natixis grew its position in shares of Boeing by 172.7% during the 4th quarter. Natixis now owns 213,543 shares of the aircraft producer’s stock worth $37,797,000 after buying an additional 135,248 shares during the period. Norinchukin Bank The increased its stake in shares of Boeing by 21.0% in the 4th quarter. Norinchukin Bank The now owns 42,205 shares of the aircraft producer’s stock valued at $7,470,000 after acquiring an additional 7,316 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Boeing during the fourth quarter worth $5,157,000. Finally, Covalis Capital LLP acquired a new stake in Boeing in the fourth quarter worth $1,067,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BA. Melius upgraded shares of Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. StockNews.com raised Boeing to a “sell” rating in a research note on Saturday, April 5th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Boeing in a research report on Wednesday. Finally, Susquehanna lifted their price target on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.11.

Boeing Trading Up 6.1 %

BA stock opened at $172.47 on Thursday. The stock has a market cap of $129.37 billion, a P/E ratio of -9.41 and a beta of 1.24. The stock’s fifty day simple moving average is $165.18 and its two-hundred day simple moving average is $164.29. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $196.95.

Boeing (NYSE:BA) last issued its quarterly 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 company had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion. As a group, analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.