Lee Danner & Bass Inc. Boosts Position in The Boeing Company (NYSE:BA)

Lee Danner & Bass Inc. lifted its position in The Boeing Company (NYSE:BA) by 1.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 28,080 shares of the aircraft producer’s stock after purchasing an additional 344 shares during the period. Lee Danner & Bass Inc.’s holdings in Boeing were worth $4,789,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BA. Vanguard Group Inc. grew its holdings in shares of Boeing by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after purchasing an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after buying an additional 3,452,075 shares during the last quarter. Northern Trust Corp raised its position in shares of Boeing by 33.6% during the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after buying an additional 1,634,231 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Boeing during the 4th quarter worth $568,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Boeing during the 4th quarter worth $526,889,000. 64.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Benchmark lowered their price target on Boeing from $250.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. Citigroup reissued a “buy” rating on shares of Boeing in a report on Thursday, May 22nd. Royal Bank Of Canada reaffirmed a “cautious” rating on shares of Boeing in a research note on Thursday, June 12th. Cowen reiterated a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. Finally, Melius Research set a $204.00 price objective on shares of Boeing in a report on Monday, March 24th. Four research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average target price of $215.77.

Insiders Place Their Bets

In other news, SVP Brendan J. Nelson sold 640 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president owned 13,258 shares of the company’s stock, valued at $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the sale, the executive vice president owned 42,513 shares in the company, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is owned by insiders.

Boeing Trading Up 1.8%

Shares of BA opened at $215.75 on Friday. The firm’s 50-day moving average price is $202.13 and its 200-day moving average price is $181.42. The firm has a market capitalization of $162.68 billion, a price-to-earnings ratio of -12.04 and a beta of 1.41. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $218.80.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 firm had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion. Boeing’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.13) earnings per share. On average, research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.