Advisors Capital Management LLC Acquires 783 Shares of The Boeing Company $BA

Advisors Capital Management LLC increased its position in shares of The Boeing Company (NYSE:BA) by 19.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,832 shares of the aircraft producer’s stock after purchasing an additional 783 shares during the period. Advisors Capital Management LLC’s holdings in Boeing were worth $824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BA. Zimmer Partners LP bought a new stake in shares of Boeing during the 4th quarter valued at $393,736,000. Sculptor Capital LP bought a new stake in shares of Boeing during the 4th quarter valued at $265,500,000. Vanguard Group Inc. raised its position in shares of Boeing by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the period. GAMMA Investing LLC raised its position in shares of Boeing by 19,333.1% during the 1st quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer’s stock valued at $170,190,000 after purchasing an additional 992,753 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Boeing by 243.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock valued at $128,689,000 after purchasing an additional 535,060 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Insider Transactions at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the purchase, the director owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Boeing Stock Down 1.8%

Boeing stock opened at $216.12 on Friday. The company’s 50-day moving average price is $228.76 and its 200-day moving average price is $199.21. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The company has a market cap of $163.42 billion, a PE ratio of -13.09 and a beta of 1.48.

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

Analyst Ratings Changes

Several brokerages have recently commented on BA. Sanford C. Bernstein restated an “outperform” rating on shares of Boeing in a research report on Monday, July 14th. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the company a “buy” rating in a research note on Thursday, June 12th. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Rothschild & Co Redburn raised shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 target price for the company in a research note on Friday, June 27th. Finally, Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and raised their target price for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $230.77.

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.