The Boeing Company $BA Stake Lifted by PBMares Wealth Management LLC

PBMares Wealth Management LLC increased its stake in The Boeing Company (NYSE:BA) by 4.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,723 shares of the aircraft producer’s stock after acquiring an additional 70 shares during the period. PBMares Wealth Management LLC’s holdings in Boeing were worth $361,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BA. Kingstone Capital Partners Texas LLC acquired a new position in Boeing in the second quarter worth approximately $378,459,000. Vanguard Group Inc. grew its position in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after buying an additional 1,212,327 shares during the last quarter. Strs Ohio acquired a new position in Boeing in the first quarter worth approximately $98,984,000. Canada Pension Plan Investment Board grew its position in Boeing by 243.8% in the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock worth $128,689,000 after buying an additional 535,060 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Boeing by 38.4% in the first quarter. Deutsche Bank AG now owns 1,805,186 shares of the aircraft producer’s stock worth $307,874,000 after buying an additional 501,161 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insiders Place Their Bets

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 transaction of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the business’s stock in a transaction dated 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 acquisition, the director directly owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Boeing Stock Down 0.6%

Shares of NYSE:BA opened at $215.88 on Wednesday. The firm has a fifty day moving average of $226.04 and a two-hundred day moving average of $203.92. The firm has a market capitalization of $163.24 billion, a P/E ratio of -13.08 and a beta of 1.48. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the prior year, the business earned ($2.90) earnings per share. Equities research analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a “buy” rating in a research report on Thursday, June 12th. KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research note on Tuesday. Rothschild & Co Redburn raised shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective for the company in a research note on Friday, June 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.00.

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.