Ascent Group LLC Raises Stake in The Boeing Company $BA

Ascent Group LLC raised its stake in shares of The Boeing Company (NYSE:BA) by 28.6% in the second quarter, Holdings Channel reports. The institutional investor owned 7,840 shares of the aircraft producer’s stock after buying an additional 1,743 shares during the quarter. Ascent Group LLC’s holdings in Boeing were worth $1,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BA. Piscataqua Savings Bank increased its holdings in Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after acquiring an additional 137 shares during the period. Proathlete Wealth Management LLC bought a new position in shares of Boeing in the first quarter worth $34,000. Monetary Management Group Inc. increased its holdings in shares of Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after purchasing an additional 50 shares during the period. Dogwood Wealth Management LLC raised its position in shares of Boeing by 30.4% in the second quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer’s stock worth $52,000 after buying an additional 56 shares in the last quarter. Finally, Hilltop National Bank bought a new stake in Boeing during the second quarter valued at $61,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the company a “buy” rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. boosted their price target on shares of Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a research report on Saturday, September 27th. Finally, Susquehanna reaffirmed a “positive” rating and set a $270.00 price objective on shares of Boeing in a report on Monday, September 15th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.91.

Boeing Stock Performance

Shares of BA opened at $216.32 on Monday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The firm has a market cap of $163.57 billion, a price-to-earnings ratio of -13.10 and a beta of 1.47. The firm has a 50 day moving average price of $225.06 and a 200-day moving average price of $205.21.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The company 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.90) EPS. As a group, equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity

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 sale, the executive vice president owned 35,873 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

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.