Bessemer Group Inc. Purchases 692,489 Shares of The Boeing Company $BA

Bessemer Group Inc. grew its position in The Boeing Company (NYSE:BA) by 3,581.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 711,824 shares of the aircraft producer’s stock after acquiring an additional 692,489 shares during the period. Bessemer Group Inc. owned 0.09% of Boeing worth $149,149,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after purchasing an additional 1,212,327 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after acquiring an additional 19,615 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Boeing by 3.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock valued at $500,247,000 after acquiring an additional 91,707 shares during the last quarter. Swiss National Bank raised its position in shares of Boeing by 2.5% during the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock valued at $359,895,000 after acquiring an additional 51,700 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Boeing by 2.3% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,014,928 shares of the aircraft producer’s stock valued at $422,188,000 after acquiring an additional 46,180 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 1.5%

Shares of NYSE BA opened at $221.13 on Monday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The firm has a fifty day simple moving average of $221.68 and a 200 day simple moving average of $210.85. The company has a market capitalization of $167.21 billion, a PE ratio of -13.39 and a beta of 1.47.

Boeing (NYSE:BA) last announced 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 analyst estimates of $20.13 billion. During the same period in the previous year, the company earned ($2.90) earnings per share. The firm’s revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on BA shares. JPMorgan Chase & Co. upped their target price on shares of Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of Boeing in a report on Monday, September 29th. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Susquehanna reissued a “positive” rating and issued a $270.00 price target on shares of Boeing in a report on Monday, September 15th. Finally, Jefferies Financial Group set a $255.00 price target on shares of Boeing in a report on Tuesday, September 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.32.

Insider Buying and Selling at Boeing

In other Boeing 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 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 approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the purchase, the director owned 2,200 shares of the company’s stock, 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.

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.