Simplicity Wealth LLC Buys 3,670 Shares of The Boeing Company (NYSE:BA)

Simplicity Wealth LLC grew its stake in shares of The Boeing Company (NYSE:BA) by 99.5% in the first quarter, Holdings Channel reports. The fund owned 7,357 shares of the aircraft producer’s stock after acquiring an additional 3,670 shares during the quarter. Simplicity Wealth LLC’s holdings in Boeing were worth $1,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of BA. Sierra Ocean LLC bought a new position in Boeing in the 4th quarter worth approximately $26,000. American National Bank & Trust boosted its holdings in Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after buying an additional 128 shares during the period. HighMark Wealth Management LLC boosted its holdings in Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after buying an additional 90 shares during the period. REAP Financial Group LLC boosted its holdings in Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock worth $31,000 after buying an additional 65 shares during the period. Finally, Anfield Capital Management LLC boosted its holdings in Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after buying an additional 95 shares during the period. 64.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on BA. Cowen reaffirmed a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Bank of America raised shares of Boeing from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $260.00 in a report on Monday, June 2nd. Citigroup reaffirmed a “buy” rating on shares of Boeing in a report on Thursday, May 22nd. Sanford C. Bernstein raised shares of Boeing from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $181.00 to $218.00 in a report on Monday, April 28th. Finally, UBS Group raised their price target on shares of Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.35.

Insider Activity

In related news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president now owns 13,258 shares in the company, valued at $2,734,860.24. This trade represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $729,151.99. Following the completion of the transaction, the executive vice president now owns 42,513 shares in the company, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is currently owned by corporate insiders.

Boeing Stock Performance

Boeing stock opened at $215.79 on Wednesday. The firm’s fifty day moving average price is $184.87 and its 200-day moving average price is $175.81. The stock has a market cap of $162.70 billion, a P/E ratio of -11.78 and a beta of 1.43. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $218.80.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.57 billion. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted ($1.13) EPS. On average, analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

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.