Assetmark Inc. Purchases 412 Shares of The Boeing Company (NYSE:BA)

Assetmark Inc. boosted its position in The Boeing Company (NYSE:BA) by 20.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,446 shares of the aircraft producer’s stock after buying an additional 412 shares during the period. Assetmark Inc.’s holdings in Boeing were worth $417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new stake in Boeing during the 4th quarter worth approximately $201,000. Bank Pictet & Cie Europe AG bought a new stake in Boeing during the 4th quarter worth approximately $7,837,000. World Investment Advisors increased its holdings in Boeing by 62.4% during the 4th quarter. World Investment Advisors now owns 8,741 shares of the aircraft producer’s stock worth $1,547,000 after purchasing an additional 3,360 shares in the last quarter. Solstein Capital LLC bought a new stake in Boeing during the 4th quarter worth approximately $33,000. Finally, Pioneer Trust Bank N A OR increased its holdings in Boeing by 20.5% during the 4th quarter. Pioneer Trust Bank N A OR now owns 2,350 shares of the aircraft producer’s stock worth $416,000 after purchasing an additional 400 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Trading Up 0.0%

Boeing stock opened at $221.94 on Friday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The business’s 50 day simple moving average is $215.23 and its 200 day simple moving average is $188.83. The company has a market cap of $167.82 billion, a price-to-earnings ratio of -13.44 and a beta of 1.48.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. During the same quarter last year, the firm earned ($2.90) earnings per share. Boeing’s revenue for the quarter was up 34.9% on a year-over-year basis. As a group, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the sale, the executive vice president owned 20,513 shares of the company’s stock, valued at $4,161,472.31. The trade was a 13.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Brendan J. Nelson sold 640 shares of the business’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 directly owned 13,258 shares in the company, valued at $2,734,860.24. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of a number of recent research reports. Rothschild & Co Redburn raised Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective for the company in a report on Friday, June 27th. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and boosted their price objective for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of Boeing in a report on Wednesday. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Finally, TD Securities downgraded Boeing to a “cautious” rating in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $228.90.

Boeing Company 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.