Polymer Capital Management US LLC Purchases New Shares in The Boeing Company (NYSE:BA)

Polymer Capital Management US LLC acquired a new position in shares of The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 26,635 shares of the aircraft producer’s stock, valued at approximately $4,714,000. Boeing accounts for 1.3% of Polymer Capital Management US LLC’s holdings, making the stock its 17th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Keynote Financial Services LLC lifted its position in Boeing by 3.8% during the fourth quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock valued at $273,000 after buying an additional 57 shares during the period. Chaney Capital Management Inc. grew its holdings in Boeing by 2.1% in the fourth quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock worth $508,000 after purchasing an additional 58 shares during the period. Farmers & Merchants Investments Inc. increased its stake in shares of Boeing by 0.6% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock valued at $1,878,000 after purchasing an additional 59 shares in the last quarter. Center for Financial Planning Inc. boosted its position in shares of Boeing by 12.0% in the 4th quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock worth $99,000 after purchasing an additional 60 shares in the last quarter. Finally, Trek Financial LLC grew its stake in shares of Boeing by 2.7% in the 4th quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer’s stock worth $408,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BA shares. Wells Fargo & Company lifted their price objective on Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. raised their price objective on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Melius Research set a $204.00 price target on shares of Boeing in a report on Monday, March 24th. UBS Group boosted their price objective on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $196.10.

Boeing Price Performance

Shares of BA stock opened at $136.61 on Monday. The company has a market cap of $102.47 billion, a price-to-earnings ratio of -7.46 and a beta of 1.53. The Boeing Company has a 1 year low of $128.74 and a 1 year high of $196.95. The firm has a fifty day moving average price of $172.36 and a 200-day moving average price of $164.28.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the company earned ($0.47) earnings per share. Equities research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In related news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

Boeing 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.