Moss Adams Wealth Advisors LLC Increases Position in The Boeing Company $BA

Moss Adams Wealth Advisors LLC lifted its position in The Boeing Company (NYSE:BA) by 14.5% in the second quarter, HoldingsChannel.com reports. The firm owned 4,139 shares of the aircraft producer’s stock after purchasing an additional 523 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Boeing were worth $867,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GC Wealth Management RIA LLC purchased a new stake in shares of Boeing in the second quarter worth $614,000. Cairn Investment Group Inc. purchased a new stake in shares of Boeing in the second quarter worth $289,000. Alpine Bank Wealth Management increased its stake in shares of Boeing by 21.5% in the second quarter. Alpine Bank Wealth Management now owns 717 shares of the aircraft producer’s stock worth $150,000 after purchasing an additional 127 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of Boeing by 150.3% in the second quarter. Sound Income Strategies LLC now owns 5,099 shares of the aircraft producer’s stock worth $1,068,000 after purchasing an additional 3,062 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. increased its stake in shares of Boeing by 1,267.6% in the second quarter. Investment Research & Advisory Group Inc. now owns 12,103 shares of the aircraft producer’s stock worth $2,536,000 after purchasing an additional 11,218 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BA shares. Bank of America increased their price objective on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Susquehanna restated a “positive” rating and set a $270.00 target price on shares of Boeing in a research report on Monday, September 15th. JPMorgan Chase & Co. upped their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Jefferies Financial Group upped their target price on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Finally, Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and upped their target price for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Three 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 issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $230.77.

Boeing Stock Up 3.6%

BA stock opened at $221.28 on Monday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The company has a fifty day simple moving average of $226.53 and a two-hundred day simple moving average of $203.45. The firm has a market capitalization of $167.32 billion, a P/E ratio of -13.40 and a beta of 1.48.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate 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 period in the prior year, the business earned ($2.90) EPS. The firm’s revenue was up 34.9% compared to the same quarter last year. As a group, analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, 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 disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

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.