WT Asset Management Ltd Invests $2.10 Million in The Boeing Company $BA

WT Asset Management Ltd purchased a new position in shares of The Boeing Company (NYSE:BA) during the second quarter, Holdings Channel.com reports. The fund purchased 10,000 shares of the aircraft producer’s stock, valued at approximately $2,095,000. Boeing comprises about 0.1% of WT Asset Management Ltd’s portfolio, making the stock its 27th largest position.

A number of other large investors have also modified their holdings of BA. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Boeing during the second quarter worth $378,459,000. Vanguard Group Inc. lifted its stake in shares of Boeing by 1.9% during 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 period. Strs Ohio acquired a new stake in shares of Boeing during the first quarter worth $98,984,000. Canada Pension Plan Investment Board lifted its stake in shares of Boeing by 243.8% during 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 period. Finally, Deutsche Bank AG lifted its stake in shares of Boeing by 38.4% during 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 period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.5%

Shares of NYSE:BA opened at $216.32 on Friday. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The company has a market capitalization of $163.57 billion, a PE ratio of -13.10 and a beta of 1.47. The business has a 50 day moving average of $225.06 and a two-hundred day moving average of $204.76.

Boeing (NYSE:BA) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the previous year, the firm earned ($2.90) earnings per share. The company’s revenue for the quarter was up 34.9% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Bank of America lifted their target price on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the stock a “buy” rating in a report on Thursday, June 12th. Jefferies Financial Group set a $255.00 target price on Boeing in a report on Tuesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of Boeing in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $233.91.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mortimer J. Buckley purchased 2,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, with a total value 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 position. The disclosure for this purchase can be found here. 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.