Adage Capital Partners GP L.L.C. Buys 56,552 Shares of The Boeing Company $BA

Adage Capital Partners GP L.L.C. lifted its position in The Boeing Company (NYSE:BA) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 894,774 shares of the aircraft producer’s stock after buying an additional 56,552 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.12% of Boeing worth $187,482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Boeing by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock worth $13,991,022,000 after purchasing an additional 1,118,316 shares during the last quarter. Geode Capital Management LLC grew its holdings in Boeing by 2.7% during the second quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock worth $3,402,073,000 after purchasing an additional 432,026 shares during the period. Fisher Asset Management LLC increased its position in Boeing by 3.8% during the second quarter. Fisher Asset Management LLC now owns 5,327,443 shares of the aircraft producer’s stock worth $1,116,259,000 after buying an additional 196,666 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Boeing by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock worth $888,910,000 after buying an additional 44,338 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Boeing by 6.3% in the second quarter. Legal & General Group Plc now owns 3,145,620 shares of the aircraft producer’s stock valued at $659,102,000 after buying an additional 187,545 shares during the period. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

BA stock opened at $204.33 on Friday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The company has a market capitalization of $155.31 billion, a PE ratio of -14.94 and a beta of 1.18. The company’s 50-day simple moving average is $202.82 and its 200 day simple moving average is $214.03.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The business had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. The firm’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period last year, the business earned ($10.44) EPS. On average, analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In other news, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares in the company, valued at approximately $2,896,904.96. The trade was a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dana S. Deasy purchased 554 shares of Boeing stock in a transaction that occurred on Monday, November 24th. The shares were bought at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the transaction, the senior vice president directly owned 28,442 shares of the company’s stock, valued at $5,087,704.96. This represents a 1.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BA has been the topic of a number of recent analyst reports. Zacks Research raised Boeing from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Susquehanna decreased their price objective on shares of Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a report on Wednesday, November 12th. New Street Research set a $257.00 price objective on shares of Boeing in a research report on Tuesday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Boeing in a report on Tuesday. Finally, Citigroup initiated coverage on shares of Boeing in a research note on Thursday. They issued a “buy” rating and a $265.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $232.96.

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.