Summit Financial Wealth Advisors LLC Increases Holdings in The Boeing Company (NYSE:BA)

Summit Financial Wealth Advisors LLC raised its position in shares of The Boeing Company (NYSE:BA - Free Report) by 116.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,486 shares of the aircraft producer's stock after purchasing an additional 2,948 shares during the quarter. Summit Financial Wealth Advisors LLC's holdings in Boeing were worth $965,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC boosted its position in shares of Boeing by 22.5% during the 3rd quarter. Continuum Advisory LLC now owns 1,528 shares of the aircraft producer's stock worth $232,000 after purchasing an additional 281 shares in the last quarter. Executive Wealth Management LLC bought a new position in Boeing in the third quarter worth approximately $264,000. Resources Management Corp CT ADV grew its stake in Boeing by 322.4% in the third quarter. Resources Management Corp CT ADV now owns 1,225 shares of the aircraft producer's stock valued at $186,000 after acquiring an additional 935 shares during the period. Prestige Wealth Management Group LLC increased its holdings in shares of Boeing by 16.5% during the third quarter. Prestige Wealth Management Group LLC now owns 1,025 shares of the aircraft producer's stock valued at $156,000 after acquiring an additional 145 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer's stock worth $1,774,705,000 after purchasing an additional 320,415 shares during the period. Institutional investors own 64.82% of the company's stock.

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Insider Activity

In related news, EVP Uma M. Amuluru sold 3,159 shares of the business's stock in a transaction dated 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 directly owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % 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. Company insiders own 0.09% of the company's stock.

Boeing Trading Up 1.4 %

Shares of BA stock traded up $2.16 during trading on Monday, reaching $159.00. 3,653,505 shares of the company's stock traded hands, compared to its average volume of 9,005,264. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $196.95. The company has a market capitalization of $119.26 billion, a P/E ratio of -8.68 and a beta of 1.24. The firm's 50-day moving average is $168.68 and its 200 day moving average is $164.00.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts' consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the company earned ($0.47) earnings per share. As a group, sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent research reports. Barclays upgraded shares of Boeing from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $190.00 to $210.00 in a research note on Monday, January 6th. UBS Group boosted their target price on shares of Boeing from $208.00 to $217.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Citigroup raised their price target on shares of Boeing from $207.00 to $210.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on Boeing from $103.00 to $113.00 and gave the company an "underweight" rating in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $196.10.

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.