Old North State Wealth Management LLC Raises Stock Holdings in The Boeing Company (NYSE:BA)

Old North State Wealth Management LLC raised its position in The Boeing Company (NYSE:BA) by 5.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,236 shares of the aircraft producer’s stock after purchasing an additional 1,079 shares during the quarter. Boeing accounts for approximately 2.0% of Old North State Wealth Management LLC’s portfolio, making the stock its 12th largest position. Old North State Wealth Management LLC’s holdings in Boeing were worth $3,622,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American National Bank & Trust increased its position in shares of Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after acquiring an additional 128 shares during the period. REAP Financial Group LLC increased its position in shares of Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after purchasing an additional 65 shares during the last quarter. Anfield Capital Management LLC grew its holdings in shares of Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after purchasing an additional 95 shares during the last quarter. Dogwood Wealth Management LLC grew its holdings in shares of Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after purchasing an additional 112 shares during the last quarter. Finally, Solstein Capital LLC purchased a new position in Boeing during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Buying and Selling at Boeing

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

Boeing Trading Up 1.9%

Shares of BA opened at $202.61 on Friday. The firm has a market cap of $152.77 billion, a price-to-earnings ratio of -11.31 and a beta of 1.43. The stock has a 50 day moving average of $196.80 and a 200-day moving average of $179.54. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Boeing from a “hold” rating to a “sell” rating in a research report on Saturday, May 17th. Citigroup reiterated a “buy” rating on shares of Boeing in a research note on Thursday, May 22nd. Melius Research set a $204.00 target price on Boeing in a research note on Monday, March 24th. Royal Bank Of Canada reiterated a “cautious” rating on shares of Boeing in a research report on Thursday, June 12th. Finally, Cowen reissued a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $209.85.

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.