Minneapolis Portfolio Management Group LLC Makes New $17.31 Million Investment in The Boeing Company (NYSE:BA)

Minneapolis Portfolio Management Group LLC acquired a new position in The Boeing Company (NYSE:BA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 97,793 shares of the aircraft producer’s stock, valued at approximately $17,309,000. Boeing comprises approximately 2.3% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted 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 buying an additional 12,641,715 shares during the last quarter. State Street Corp lifted its stake in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after buying an additional 636,594 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Boeing by 2.8% in 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 buying an additional 320,415 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock worth $890,469,000 after buying an additional 164,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Boeing by 30.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock worth $739,585,000 after buying an additional 981,796 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

BA opened at $178.32 on Monday. The firm’s 50-day simple moving average is $172.98 and its 200-day simple moving average is $163.59. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $196.95. The firm has a market cap of $133.75 billion, a price-to-earnings ratio of -9.73 and a beta of 1.53.

Boeing (NYSE:BA) last issued its quarterly earnings data 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) EPS. As a group, sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective 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. Deutsche Bank Aktiengesellschaft upped 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. Wells Fargo & Company upped their target price on shares of Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a research note on Monday, March 17th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Finally, StockNews.com upgraded shares of Boeing to a “sell” rating in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $195.68.

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.