Maiden Cove Capital LLC Boosts Position in The Boeing Company (NYSE:BA)

Maiden Cove Capital LLC increased its holdings in shares of The Boeing Company (NYSE:BA) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,343 shares of the aircraft producer’s stock after purchasing an additional 174 shares during the quarter. Maiden Cove Capital LLC’s holdings in Boeing were worth $238,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in Boeing in the fourth quarter valued at approximately $230,944,000. Amundi lifted its stake in Boeing by 473.6% in the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock valued at $268,862,000 after buying an additional 1,292,417 shares during the last quarter. Burkehill Global Management LP purchased a new stake in Boeing in the fourth quarter valued at approximately $212,400,000. Franklin Resources Inc. lifted its stake in Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after buying an additional 1,055,472 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Boeing by 30.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after buying an additional 981,796 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

BA opened at $162.00 on Friday. The business’s fifty day moving average is $173.23 and its two-hundred day moving average is $163.68. The company has a market cap of $121.51 billion, a price-to-earnings ratio of -8.84 and a beta of 1.53. The Boeing Company has a one year low of $137.03 and a one year high of $196.95.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the firm posted ($0.47) earnings per share. On average, analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BA shares. StockNews.com upgraded Boeing to a “sell” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. UBS Group boosted their target price on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. Finally, Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $195.16.

Insiders Place Their Bets

In related news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company 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.