WealthPlan Investment Management LLC Raises Stock Position in The Boeing Company $BA

WealthPlan Investment Management LLC increased its stake in The Boeing Company (NYSE:BA) by 21.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,407 shares of the aircraft producer’s stock after acquiring an additional 613 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Boeing were worth $714,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Alta Capital Management LLC increased its holdings in Boeing by 14.5% in the 2nd quarter. Alta Capital Management LLC now owns 3,940 shares of the aircraft producer’s stock worth $826,000 after acquiring an additional 500 shares in the last quarter. Patten & Patten Inc. TN grew its holdings in shares of Boeing by 22.9% during the second quarter. Patten & Patten Inc. TN now owns 30,778 shares of the aircraft producer’s stock worth $6,449,000 after buying an additional 5,730 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of Boeing by 0.9% during the second quarter. New York State Teachers Retirement System now owns 561,566 shares of the aircraft producer’s stock worth $117,665,000 after buying an additional 5,153 shares in the last quarter. Davidson Investment Advisors grew its holdings in shares of Boeing by 1.1% during the second quarter. Davidson Investment Advisors now owns 88,478 shares of the aircraft producer’s stock worth $18,539,000 after buying an additional 991 shares in the last quarter. Finally, Rheos Capital Works Inc. grew its holdings in shares of Boeing by 88.7% during the second quarter. Rheos Capital Works Inc. now owns 106,400 shares of the aircraft producer’s stock worth $22,294,000 after buying an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $211.94 on Friday. The stock has a market capitalization of $160.26 billion, a PE ratio of -12.84 and a beta of 1.47. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The company’s 50-day simple moving average is $223.42 and its 200-day simple moving average is $207.25.

Boeing (NYSE:BA) last released its earnings results 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 company 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 earned ($2.90) EPS. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. On average, sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In other news, Director Mortimer J. Buckley acquired 2,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, with a total value 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. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. 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 report on Wednesday, July 30th. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a report on Tuesday, September 30th. Barclays upped their target price on shares of Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Susquehanna reissued a “positive” rating and set a $270.00 price target on shares of Boeing in a research report on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average target price of $240.20.

Boeing Company 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.