KRS Capital Management LLC Takes $203,000 Position in The Boeing Company $BA

KRS Capital Management LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 968 shares of the aircraft producer’s stock, valued at approximately $203,000.

A number of other hedge funds also recently made changes to their positions in the business. Piscataqua Savings Bank raised its holdings in Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 137 shares in the last quarter. Proathlete Wealth Management LLC bought a new stake in Boeing during the first quarter worth approximately $34,000. Monetary Management Group Inc. raised its holdings in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after purchasing an additional 50 shares in the last quarter. Columbia River Financial Group LLC bought a new stake in Boeing during the first quarter worth approximately $50,000. Finally, Iron Horse Wealth Management LLC raised its holdings in Boeing by 33.8% during the first quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer’s stock worth $51,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE BA opened at $216.48 on Friday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock has a market cap of $163.69 billion, a price-to-earnings ratio of -13.11 and a beta of 1.47. The firm’s 50 day moving average price is $224.51 and its two-hundred day moving average price is $205.99.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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 analysts’ expectations of $20.13 billion. During the same quarter last year, the firm posted ($2.90) EPS. The business’s quarterly revenue was up 34.9% on a year-over-year basis. On average, research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred 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 directly owned 35,873 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction on Tuesday, August 19th. The shares were purchased 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 owned 2,200 shares in the company, valued at approximately $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and boosted their target price for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Jefferies Financial Group set a $255.00 price target on Boeing in a report on Tuesday, September 30th. Citigroup reaffirmed a “buy” rating on shares of Boeing in a report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $233.91.

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.