Allstate Corp Invests $3.83 Million in The Boeing Company (NYSE:BA)

Allstate Corp bought a new stake in shares of The Boeing Company (NYSE:BA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,615 shares of the aircraft producer’s stock, valued at approximately $3,826,000.

Several other hedge funds have also bought and sold shares of BA. Sierra Ocean LLC purchased a new position in shares of Boeing during the 4th quarter valued at about $26,000. Sugar Maple Asset Management LLC purchased a new position in Boeing during the fourth quarter valued at approximately $27,000. Fiduciary Advisors Inc. bought a new position in shares of Boeing in the fourth quarter worth approximately $28,000. HighMark Wealth Management LLC increased its stake in shares of Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after purchasing an additional 90 shares in the last quarter. Finally, Anfield Capital Management LLC raised its position in shares of Boeing by 113.1% during the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after purchasing an additional 95 shares during the period. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BA shares. UBS Group upped their target price on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. Melius Research raised Boeing from a “hold” rating to a “strong-buy” rating in a report on Monday, March 24th. Wells Fargo & Company increased their price objective on shares of Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a report on Monday, March 17th. Finally, Susquehanna lifted 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $195.68.

Boeing Price Performance

Shares of BA stock opened at $172.98 on Friday. The company has a market cap of $129.74 billion, a PE ratio of -9.44 and a beta of 1.53. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $196.95. The stock’s 50 day simple moving average is $173.98 and its two-hundred day simple moving average is $164.17.

Boeing (NYSE:BA) last released 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 quarter in the prior year, the firm posted ($0.47) earnings per share. Equities research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

In other news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

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.