Hodges Capital Management Inc. Purchases 15,599 Shares of The Boeing Company $BA

Hodges Capital Management Inc. increased its holdings in The Boeing Company (NYSE:BA) by 55.2% in the second quarter, Holdings Channel reports. The fund owned 43,875 shares of the aircraft producer’s stock after purchasing an additional 15,599 shares during the quarter. Hodges Capital Management Inc.’s holdings in Boeing were worth $9,193,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Revolve Wealth Partners LLC purchased a new stake in Boeing during the fourth quarter worth $201,000. Fidelis Capital Partners LLC lifted its stake in shares of Boeing by 10.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 2,166 shares of the aircraft producer’s stock worth $385,000 after purchasing an additional 207 shares during the last quarter. IFC Advisors LLC purchased a new stake in shares of Boeing during the 1st quarter worth $225,000. Ballentine Partners LLC boosted its position in Boeing by 10.2% during the first quarter. Ballentine Partners LLC now owns 6,377 shares of the aircraft producer’s stock valued at $1,088,000 after purchasing an additional 589 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in Boeing by 5.4% in the first quarter. New York State Common Retirement Fund now owns 1,057,661 shares of the aircraft producer’s stock valued at $180,384,000 after purchasing an additional 54,513 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on BA shares. Royal Bank Of Canada reissued an “outperform” rating and set a $250.00 price target on shares of Boeing in a research report on Monday, September 29th. KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Susquehanna restated a “positive” rating and issued a $270.00 target price on shares of Boeing in a research note on Monday, September 15th. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and upped their price target for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Finally, Citigroup reissued a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.80.

Insiders Place Their Bets

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Boeing Trading Down 1.1%

NYSE BA opened at $194.40 on Monday. The company has a fifty day simple moving average of $216.65 and a two-hundred day simple moving average of $214.38. The stock has a market cap of $147.76 billion, a P/E ratio of -14.21 and a beta of 1.44. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The firm had revenue of $23.27 billion for the quarter, compared to analysts’ expectations of $21.61 billion. During the same quarter in the previous year, the business earned ($10.44) earnings per share. Boeing’s revenue was up 30.4% on a year-over-year basis. As a group, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

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.