The Boeing Company $BA Shares Acquired by Wealth Effects LLC

Wealth Effects LLC lifted its holdings in The Boeing Company (NYSE:BA) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,225 shares of the aircraft producer’s stock after purchasing an additional 609 shares during the period. Boeing comprises about 0.8% of Wealth Effects LLC’s portfolio, making the stock its 26th largest holding. Wealth Effects LLC’s holdings in Boeing were worth $2,142,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vestcor Inc raised its stake in shares of Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock worth $2,471,000 after buying an additional 1,195 shares during the period. National Pension Service grew its position in shares of Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock valued at $227,365,000 after purchasing an additional 218,049 shares during the period. Wynn Capital LLC purchased a new stake in shares of Boeing during the first quarter worth about $584,000. MFG Wealth Management Inc. purchased a new position in Boeing in the 1st quarter valued at about $2,125,000. Finally, Kelman Lazarov Inc. acquired a new stake in Boeing in the 1st quarter worth about $262,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $216.30 on Wednesday. The company’s 50-day simple moving average is $227.33 and its 200-day simple moving average is $201.83. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a market capitalization of $163.56 billion, a PE ratio of -13.10 and a beta of 1.48.

Boeing (NYSE:BA) last released 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 the consensus estimate of $20.13 billion. The firm’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.90) EPS. On average, sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Susquehanna restated a “positive” rating and issued a $270.00 target price on shares of Boeing in a research report on Monday, September 15th. UBS Group set a $280.00 target price on shares of Boeing and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Boeing in a research report on Wednesday, July 30th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Boeing in a research note on Monday, July 14th. Finally, KGI Securities upgraded Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $230.77.

Insider Activity

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

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.