Adage Capital Partners GP L.L.C. Reduces Stock Position in The Boeing Company (NYSE:BA)

Adage Capital Partners GP L.L.C. decreased its position in The Boeing Company (NYSE:BA) by 10.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 615,287 shares of the aircraft producer’s stock after selling 71,351 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Boeing were worth $108,906,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Boeing by 24.4% in the 4th 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 during the period. Geode Capital Management LLC lifted its holdings 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 worth $2,677,170,000 after buying an additional 3,452,075 shares during the period. Raymond James Financial Inc. bought a new stake in Boeing during the 4th quarter valued at approximately $230,944,000. Amundi grew its holdings 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 acquiring an additional 1,292,417 shares during the period. Finally, Burkehill Global Management LP bought a new position in shares of Boeing in the 4th quarter worth approximately $212,400,000. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

BA opened at $162.84 on Wednesday. The company’s 50-day simple moving average is $165.42 and its two-hundred day simple moving average is $164.23. The stock has a market capitalization of $122.14 billion, a P/E ratio of -8.89 and a beta of 1.24. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $196.95.

Boeing (NYSE:BA) last issued its 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 period in the prior year, the firm posted ($0.47) EPS. Research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the topic of several recent research reports. UBS Group upped their price target on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Boeing in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Melius Research set a $204.00 price objective on shares of Boeing in a research note on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $197.11.

Insider Buying and Selling

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.