1858 Wealth Management LLC Buys Shares of 6,316 The Boeing Company $BA

1858 Wealth Management LLC bought a new stake in The Boeing Company (NYSE:BA) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 6,316 shares of the aircraft producer’s stock, valued at approximately $1,323,000. Boeing comprises 1.0% of 1858 Wealth Management LLC’s portfolio, making the stock its 29th largest position.

A number of other institutional investors also recently bought and sold shares of the company. Vestcor Inc raised its stake in shares of Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock worth $2,471,000 after buying an additional 1,195 shares during the period. National Pension Service raised its stake in shares of Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock worth $227,365,000 after buying an additional 218,049 shares during the period. MFG Wealth Management Inc. bought a new position in shares of Boeing in the first quarter worth about $2,125,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Boeing in the second quarter worth about $62,859,000. Finally, Kelman Lazarov Inc. bought a new position in shares of Boeing in the first quarter worth about $262,000. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on BA. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a research note on Wednesday. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and lifted their target price for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Finally, Susquehanna reissued a “positive” rating and set a $270.00 target price on shares of Boeing in a research note on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $233.91.

Boeing Trading Down 2.3%

Shares of BA opened at $211.04 on Friday. The company has a market capitalization of $159.58 billion, a PE ratio of -12.78 and a beta of 1.47. The business’s 50 day moving average is $224.29 and its 200 day moving average is $206.38. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69.

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

Insider Activity at Boeing

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the acquisition, the director directly owned 2,200 shares of the company’s stock, valued at $497,420. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Company 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.