The Boeing Company $BA Stake Boosted by TOWER TRUST & INVESTMENT Co

TOWER TRUST & INVESTMENT Co increased its position in shares of The Boeing Company (NYSE:BA) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,641 shares of the aircraft producer’s stock after purchasing an additional 74 shares during the quarter. TOWER TRUST & INVESTMENT Co’s holdings in Boeing were worth $763,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. American National Bank & Trust lifted its stake in Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after buying an additional 128 shares during the last quarter. Piscataqua Savings Bank lifted its stake in Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 137 shares during the last quarter. Proathlete Wealth Management LLC bought a new stake in Boeing in the first quarter valued at $34,000. Monetary Management Group Inc. lifted its stake in Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after buying an additional 50 shares during the last quarter. Finally, Columbia River Financial Group LLC bought a new stake in Boeing in the first quarter valued at $50,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BA has been the topic of a number of recent research reports. Bank of America raised their target price on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their target price on Boeing from $230.00 to $251.00 and gave the company an “overweight” 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 note on Wednesday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Boeing in a research note on Monday, July 14th. Finally, Vertical Research raised Boeing from a “hold” rating to a “buy” rating and raised their price target for the company from $242.00 to $270.00 in a report on Monday, September 8th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $230.77.

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 stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company’s stock, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Boeing Stock Performance

Shares of BA opened at $221.28 on Friday. The firm has a market capitalization of $167.32 billion, a price-to-earnings ratio of -13.40 and a beta of 1.48. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The stock’s fifty day moving average is $226.53 and its 200-day moving average is $202.84.

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

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.