Suvretta Capital Management LLC Takes $27.47 Million Position in The Boeing Company (NYSE:BA)

Suvretta Capital Management LLC bought a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 155,197 shares of the aircraft producer's stock, valued at approximately $27,470,000.

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Other institutional investors have also recently modified their holdings of the company. AdvisorNet Financial Inc raised its holdings in shares of Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer's stock worth $358,000 after buying an additional 710 shares in the last quarter. Carnegie Investment Counsel raised its holdings in shares of Boeing by 175.6% during the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer's stock worth $818,000 after buying an additional 2,943 shares in the last quarter. Amundi raised 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 buying an additional 1,292,417 shares in the last quarter. KKM Financial LLC raised its holdings in shares of Boeing by 50.8% during the 4th quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock worth $2,720,000 after buying an additional 5,175 shares in the last quarter. Finally, Grant Private Wealth Management Inc acquired a new position in shares of Boeing during the 4th quarter worth $903,000. 64.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Susquehanna reaffirmed a "positive" rating and issued a $240.00 target price (up previously from $205.00) on shares of Boeing in a report on Wednesday. Sanford C. Bernstein raised Boeing from a "market perform" rating to an "outperform" rating and increased their price target for the company from $181.00 to $218.00 in a research note on Monday, April 28th. StockNews.com cut Boeing from a "hold" rating to a "sell" rating in a research note on Saturday. UBS Group increased their price target on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company reissued an "underweight" rating and issued a $140.00 price target (up previously from $111.00) on shares of Boeing in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $204.35.

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Get Our Latest Analysis on BA

Insider Activity

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the sale, the executive vice president now directly owns 20,513 shares in the company, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president now owns 42,513 shares in the company, valued at $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,263 shares of company stock worth $1,950,150 over the last 90 days. 0.09% of the stock is currently owned by corporate insiders.

Boeing Stock Down 0.2%

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BA stock opened at $205.88 on Friday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $209.66. The stock's 50 day moving average is $171.81 and its 200-day moving average is $168.55. The firm has a market capitalization of $155.23 billion, a PE ratio of -11.24 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the prior year, the business earned ($1.13) EPS. The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal 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.

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