Pingora Partners LLC Has $1.74 Million Position in The Boeing Company (NYSE:BA)

Pingora Partners LLC lowered its holdings in The Boeing Company (NYSE:BA) by 19.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,831 shares of the aircraft producer’s stock after selling 2,355 shares during the period. Boeing makes up 1.1% of Pingora Partners LLC’s portfolio, making the stock its 15th biggest position. Pingora Partners LLC’s holdings in Boeing were worth $1,740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BA. Vanguard Group Inc. increased its stake in shares of Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after acquiring an additional 12,641,715 shares during the last quarter. Geode Capital Management LLC grew its stake in Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after purchasing an additional 3,452,075 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Boeing in the 4th quarter worth about $230,944,000. Amundi raised its stake in shares of Boeing by 473.6% during the 4th quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock worth $268,862,000 after purchasing an additional 1,292,417 shares in the last quarter. Finally, Burkehill Global Management LP purchased a new stake in shares of Boeing during the 4th quarter worth about $212,400,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BA shares. StockNews.com upgraded Boeing to a “sell” rating in a report on Thursday. Benchmark dropped their price target on shares of Boeing from $250.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday. TD Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Boeing in a research note on Thursday. Melius raised shares of Boeing from a “hold” rating to a “buy” rating in a research report on Monday, March 24th. Finally, UBS Group boosted their price target on Boeing from $190.00 to $207.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Boeing has an average rating of “Moderate Buy” and an average target price of $198.45.

Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by insiders.

Boeing Stock Up 2.3 %

BA stock opened at $176.27 on Friday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $196.95. The company has a market cap of $132.22 billion, a PE ratio of -9.62 and a beta of 1.24. The business’s 50-day simple moving average is $165.01 and its 200 day simple moving average is $164.43.

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 the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. On average, equities research analysts anticipate that The Boeing Company will post -2.58 EPS for the current 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.