Beirne Wealth Consulting Services LLC Takes Position in The Boeing Company $BA

Beirne Wealth Consulting Services LLC bought a new position in The Boeing Company (NYSE:BA) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,518 shares of the aircraft producer’s stock, valued at approximately $318,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new position in shares of Boeing in the second quarter valued at $25,000. Piscataqua Savings Bank raised its holdings in Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after buying an additional 137 shares during the period. Monetary Management Group Inc. lifted its stake in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after buying an additional 50 shares in the last quarter. IMG Wealth Management Inc. boosted its holdings in shares of Boeing by 159.4% in the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock worth $38,000 after buying an additional 110 shares during the period. Finally, Keener Financial Planning LLC acquired a new stake in shares of Boeing during the second quarter valued at approximately $41,000. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA opened at $223.60 on Wednesday. The company has a market capitalization of $169.08 billion, a PE ratio of -13.54 and a beta of 1.47. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The company’s fifty day moving average price is $221.46 and its 200 day moving average price is $211.77.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.90) EPS. Analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the firm’s 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares of the company’s stock, valued at $497,420. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on BA. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Sanford C. Bernstein lifted their target price on Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. increased their price objective on Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Bank of America upped their target price on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.32.

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.