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With all the Sturm und Drang in the markets lately, most investors probably haven’t noticed that Boeing stock is up for the year.
Boeing (ticker: BA) shares ended Friday with a 1.8% year-to-date gain, compared with a 5.6% drop in the S&P 500 index. Shares of the aerospace and defense giant ended 6% in the red last year, while the index rose 27%.
Former Qualcomm ( QCOM
) CEO Steve Mollenkopf bought $100,000 of Boeing stock on Feb. 1, paying an average share price of $208.39. Mollenkopf, who joined Boeing’s board in 2020, stepped down as CEO at Qualcomm, a maker of wireless chips, on June 30, 2021. Boeing didn’t respond to a request to make Mollenkopf available for comment.
Another notable insider purchase last week was at Electric utility NextEra Energy (NEE), which has seen shares tumble 19% so far this year, wiping out last year’s 21% gain. Before it went off the rails, the Biden administration’s Build Back Better plan was supposed to lift NextEra stock.
NextEra CEO Jim Robo bought stock on the way out, paying $5 million on Jan. 31 for 64,691 shares, an average per-share price of $77.26. Robo steps down March 1. NextEra didn’t make him available for comment, and the company also declined to comment.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin at [email protected] and follow @BarronsEdLin.
