First American Bank Boosts Stake in The Boeing Company (NYSE:BA)

First American Bank lifted its stake in The Boeing Company (NYSE:BA) by 15.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,038 shares of the aircraft producer’s stock after buying an additional 6,911 shares during the period. First American Bank’s holdings in Boeing were worth $8,705,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Revolve Wealth Partners LLC acquired a new stake in shares of Boeing in the fourth quarter worth about $201,000. Bank Pictet & Cie Europe AG acquired a new stake in shares of Boeing in the 4th quarter valued at about $7,837,000. Alberta Investment Management Corp bought a new position in shares of Boeing in the 4th quarter valued at about $3,052,000. Bryn Mawr Capital Management LLC grew its holdings in shares of Boeing by 57.4% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 5,489 shares of the aircraft producer’s stock valued at $972,000 after acquiring an additional 2,002 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of Boeing by 9.7% in the 4th quarter. Concurrent Investment Advisors LLC now owns 22,666 shares of the aircraft producer’s stock valued at $4,012,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA opened at $198.41 on Friday. The Boeing Company has a one year low of $128.88 and a one year high of $218.80. The company has a market cap of $149.60 billion, a P/E ratio of -11.07 and a beta of 1.43. The firm has a 50 day simple moving average of $193.38 and a two-hundred day simple moving average of $178.31.

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

Insiders Place Their Bets

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president now owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president now owns 42,513 shares in the company, valued at $7,950,356.13. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Benchmark decreased their price objective on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a report on Monday, April 21st. TD Securities cut Boeing to a “cautious” rating in a report on Thursday, May 22nd. Cowen reiterated a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Bank of America upgraded Boeing from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $260.00 in a report on Monday, June 2nd. Finally, Royal Bank Of Canada reiterated a “cautious” rating on shares of Boeing in a report on Thursday, June 12th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.85.

Boeing 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.