Firestone Capital Management Purchases New Shares in The Boeing Company $BA

Firestone Capital Management purchased a new position in The Boeing Company (NYSE:BA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,010 shares of the aircraft producer’s stock, valued at approximately $212,000.

Other institutional investors have also modified their holdings of the company. Harbor Asset Planning Inc. bought a new stake in Boeing in the second quarter worth $25,000. Piscataqua Savings Bank raised its stake in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after acquiring an additional 137 shares during the period. Decker Retirement Planning Inc. bought a new stake in shares of Boeing in the 2nd quarter worth about $35,000. IMG Wealth Management Inc. grew its holdings in Boeing by 159.4% during the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after purchasing an additional 110 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in Boeing in the 2nd quarter worth about $39,000. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group reaffirmed a “buy” rating on shares of Boeing in a research note on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Boeing in a research note on Wednesday, October 8th. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Barclays upped their target price on shares of Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Finally, Citigroup reiterated a “buy” rating on shares of Boeing in a report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $240.30.

Boeing Stock Down 0.1%

Boeing stock opened at $194.45 on Friday. The firm has a market cap of $147.80 billion, a P/E ratio of -14.21 and a beta of 1.44. The business has a fifty day moving average of $212.85 and a two-hundred day moving average of $214.68. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The firm had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. During the same period last year, the firm posted ($10.44) earnings per share. The company’s quarterly revenue was up 30.4% on a year-over-year basis. Equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity

In other news, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the sale, the executive vice president owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate 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.