Kingswood Wealth Advisors LLC Buys 36,258 Shares of The Boeing Company (NYSE:BA)

Kingswood Wealth Advisors LLC boosted its stake in shares of The Boeing Company (NYSE:BA) by 165.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,206 shares of the aircraft producer’s stock after buying an additional 36,258 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Boeing were worth $9,828,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings 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 purchasing an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Boeing in the 4th quarter worth $568,000. Alyeska Investment Group L.P. bought a new stake in shares of Boeing in the 4th quarter worth $526,889,000. Finally, Zimmer Partners LP bought a new stake in shares of Boeing in the 4th quarter worth $393,736,000. Institutional investors own 64.82% of the company’s stock.

Insider Activity at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president now directly owns 13,258 shares in the company, valued at $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the transaction, the executive vice president now owns 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,744 shares of company stock worth $1,511,370. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BA. Wall Street Zen lowered Boeing from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. UBS Group lifted their target price on Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Susquehanna reissued a “positive” rating and issued a $240.00 target price (up previously from $205.00) on shares of Boeing in a report on Wednesday, May 14th. TD Securities downgraded Boeing to a “cautious” rating in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a “buy” rating in a research note on Thursday, June 12th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.85.

Boeing Stock Performance

NYSE BA opened at $200.21 on Wednesday. The company has a market capitalization of $150.96 billion, a PE ratio of -11.17 and a beta of 1.43. The business’s fifty day moving average is $190.97 and its 200 day moving average is $177.59. 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 released its earnings results 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. Boeing’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted ($1.13) earnings per share. On average, sell-side analysts forecast that The Boeing Company will post -2.58 EPS 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.