Massachusetts Wealth Management Invests $982,000 in The Boeing Company $BA

Massachusetts Wealth Management bought a new position in The Boeing Company (NYSE:BA) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,685 shares of the aircraft producer’s stock, valued at approximately $982,000.

Other hedge funds have also recently modified their holdings of the company. Piscataqua Savings Bank boosted its stake in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after buying an additional 137 shares during the last quarter. Proathlete Wealth Management LLC purchased a new stake in shares of Boeing in the first quarter worth about $34,000. Monetary Management Group Inc. boosted its stake 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 buying an additional 50 shares during the last quarter. Dogwood Wealth Management LLC boosted its stake 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 during the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of Boeing in the second quarter worth about $61,000. Hedge funds and other 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 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 in the company, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, 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. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Performance

NYSE:BA opened at $225.26 on Thursday. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The stock has a market cap of $170.33 billion, a PE ratio of -13.64 and a beta of 1.47. The stock has a 50 day moving average price of $224.61 and a 200 day moving average price of $205.75.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same period in the previous year, the company posted ($2.90) earnings per share. The business’s revenue was up 34.9% on a year-over-year basis. As a group, analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Citigroup reaffirmed a “buy” rating on shares of Boeing in a report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Barclays upped their price target on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group set a $255.00 price target on Boeing in a report on Tuesday, September 30th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $233.91.

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.