Horizon Wealth Management LLC Increases Stake in The Boeing Company (NYSE:BA)

Horizon Wealth Management LLC lifted its holdings in The Boeing Company (NYSE:BA) by 24.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,397 shares of the aircraft producer’s stock after purchasing an additional 1,073 shares during the quarter. Horizon Wealth Management LLC’s holdings in Boeing were worth $920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BA. Sierra Ocean LLC purchased a new position in shares of Boeing in the fourth quarter valued at $26,000. American National Bank & Trust grew its holdings in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after purchasing an additional 128 shares in the last quarter. HighMark Wealth Management LLC grew its holdings in shares of Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after purchasing an additional 90 shares in the last quarter. REAP Financial Group LLC boosted its stake in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock worth $31,000 after buying an additional 65 shares during the period. Finally, Anfield Capital Management LLC boosted its stake in Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after buying an additional 95 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on BA shares. Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a research note on Thursday, May 22nd. Jefferies Financial Group lifted their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Securities lowered shares of Boeing to a “cautious” rating in a research note on Thursday, May 22nd. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a research note on Thursday, May 22nd. Finally, Sanford C. Bernstein raised shares of Boeing from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $181.00 to $218.00 in a research note on Monday, April 28th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $207.85.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the sale, the executive vice president now directly owns 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president now directly owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock valued at $1,511,370 over the last three months. 0.09% of the stock is owned by company insiders.

Boeing Price Performance

NYSE:BA opened at $211.03 on Friday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $215.80. The company has a 50-day moving average of $182.59 and a 200 day moving average of $174.64. The firm has a market cap of $159.12 billion, a PE ratio of -11.52 and a beta of 1.43.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion. During the same period last year, the company earned ($1.13) earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. Sell-side analysts anticipate that The Boeing Company will post -2.58 EPS 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.