Vanguard Group Inc. Acquires 1,118,316 Shares of The Boeing Company $BA

Vanguard Group Inc. raised its stake in shares of The Boeing Company (NYSE:BA) by 1.7% during the second quarter, Holdings Channel reports. The firm owned 66,773,360 shares of the aircraft producer’s stock after buying an additional 1,118,316 shares during the period. Vanguard Group Inc. owned about 0.09% of Boeing worth $13,991,022,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wallace Advisory Group LLC boosted its stake in shares of Boeing by 1.2% in the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock valued at $748,000 after purchasing an additional 44 shares in the last quarter. Aspire Capital Advisors LLC raised its stake in shares of Boeing by 0.8% in the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock valued at $1,245,000 after acquiring an additional 45 shares during the last quarter. Lantz Financial LLC boosted its holdings in shares of Boeing by 1.5% in the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock worth $644,000 after acquiring an additional 46 shares in the last quarter. Blue Barn Wealth LLC grew its position in Boeing by 1.8% during the 2nd quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock worth $544,000 after acquiring an additional 46 shares during the last quarter. Finally, Atlas Brown Inc. increased its holdings in Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock valued at $1,362,000 after purchasing an additional 48 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Trading Down 1.3%

Boeing stock opened at $192.01 on Tuesday. The company has a market cap of $145.94 billion, a PE ratio of -14.04 and a beta of 1.44. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The company’s 50-day moving average is $212.07 and its two-hundred day moving average is $214.96.

Boeing (NYSE:BA) last posted its quarterly earnings results 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 company had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. During the same period last year, the business posted ($10.44) earnings per share. Boeing’s revenue was up 30.4% compared to the same quarter last year. Research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity at Boeing

In other news, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the transaction, the executive vice president owned 14,656 shares of the company’s stock, valued at $2,896,904.96. This represents a 8.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and lifted their price target for the company from $242.00 to $270.00 in a report on Monday, September 8th. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Bank of America raised their price objective on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of Boeing in a research report on Monday, September 29th. Three investment 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $240.30.

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.