Financial Insights Inc. Takes Position in The Boeing Company $BA

Financial Insights Inc. acquired a new stake in shares of The Boeing Company (NYSE:BA) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,086 shares of the aircraft producer’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vestcor Inc increased its stake in Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock valued at $2,471,000 after acquiring an additional 1,195 shares during the period. National Pension Service increased its stake in Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock valued at $227,365,000 after acquiring an additional 218,049 shares during the period. Wynn Capital LLC bought a new stake in Boeing in the first quarter valued at about $584,000. MFG Wealth Management Inc. bought a new stake in Boeing in the first quarter valued at about $2,125,000. Finally, Kelman Lazarov Inc. bought a new stake in Boeing in the first quarter valued at about $262,000. Institutional investors own 64.82% of the company’s stock.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares of the company’s stock, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BA. Susquehanna reaffirmed a “positive” rating and set a $270.00 price objective on shares of Boeing in a research note on Monday, September 15th. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and upped their price objective for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Rothschild & Co Redburn raised shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective on the stock in a research note on Friday, June 27th. Sanford C. Bernstein upped their price objective on shares of Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and upped their price objective for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.91.

Boeing Trading Down 0.5%

Shares of BA stock opened at $216.32 on Friday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm’s 50 day moving average is $225.06 and its 200-day moving average is $204.98. The firm has a market capitalization of $163.57 billion, a price-to-earnings ratio of -13.10 and a beta of 1.47.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned ($2.90) EPS. Boeing’s revenue for the quarter was up 34.9% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.