Tandem Capital Management Corp ADV Boosts Holdings in The Boeing Company $BA

Tandem Capital Management Corp ADV grew its position in The Boeing Company (NYSE:BA) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,692 shares of the aircraft producer’s stock after buying an additional 456 shares during the period. Boeing accounts for approximately 1.6% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 19th largest position. Tandem Capital Management Corp ADV’s holdings in Boeing were worth $3,078,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BA. Revolve Wealth Partners LLC purchased a new position in shares of Boeing during the 4th quarter worth approximately $201,000. Park Avenue Securities LLC boosted its position in shares of Boeing by 16.0% during the 1st quarter. Park Avenue Securities LLC now owns 13,319 shares of the aircraft producer’s stock worth $2,272,000 after purchasing an additional 1,833 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Boeing by 44.6% during the 1st quarter. Farther Finance Advisors LLC now owns 10,803 shares of the aircraft producer’s stock worth $1,817,000 after purchasing an additional 3,330 shares during the period. Pallas Capital Advisors LLC boosted its position in shares of Boeing by 12.2% during the 1st quarter. Pallas Capital Advisors LLC now owns 2,456 shares of the aircraft producer’s stock worth $419,000 after purchasing an additional 267 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Boeing by 13.9% during the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer’s stock worth $998,000 after purchasing an additional 716 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.6%

Shares of BA opened at $225.26 on Thursday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The firm’s fifty day simple moving average is $224.61 and its 200-day simple moving average is $205.75. The firm has a market capitalization of $170.33 billion, a price-to-earnings ratio of -13.64 and a beta of 1.47.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 analyst estimates of $20.13 billion. During the same quarter last year, the firm earned ($2.90) EPS. The company’s quarterly revenue was up 34.9% on a year-over-year basis. On average, analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BA. Barclays increased their price objective on shares of Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Vertical Research raised shares of 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 research report on Monday, September 8th. Rothschild & Co Redburn raised shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price target for the company in a research report on Friday, June 27th. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the company a “buy” rating in a research report on Thursday, June 12th. Finally, KGI Securities raised shares of 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 given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus price target of $233.91.

Insider Buying and Selling at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing 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 sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. This 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 company 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.