Polymer Capital Management US LLC Purchases New Position in The Boeing Company (NYSE:BA)

Polymer Capital Management US LLC acquired a new position in The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 26,635 shares of the aircraft producer’s stock, valued at approximately $4,714,000. Boeing comprises approximately 1.3% of Polymer Capital Management US LLC’s portfolio, making the stock its 17th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Vanguard Group Inc. grew its stake 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 buying an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC raised its position in Boeing by 29.5% during 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 during the period. Raymond James Financial Inc. bought a new stake in shares of Boeing in the 4th quarter valued at approximately $230,944,000. Amundi boosted its holdings in shares of Boeing by 473.6% in 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 during the period. Finally, Burkehill Global Management LP purchased a new stake in Boeing during the 4th quarter valued at $212,400,000. 64.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on BA. Susquehanna boosted their price objective on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. 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. Melius raised Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. UBS Group raised 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. Finally, JPMorgan Chase & Co. upped their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $196.10.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of Boeing 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 sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Down 9.5 %

NYSE:BA opened at $136.61 on Monday. The firm has a 50 day moving average of $172.36 and a 200 day moving average of $164.28. The stock has a market capitalization of $102.47 billion, a price-to-earnings ratio of -7.46 and a beta of 1.53. The Boeing Company has a 52 week low of $128.74 and a 52 week high of $196.95.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the business earned ($0.47) earnings per share. As a group, analysts expect that The Boeing Company will post -2.58 EPS for the current year.

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.