Optimize Financial Inc Takes Position in The Boeing Company $BA

Key Points

• Optimize Financial Inc acquired 1,369 shares of The Boeing Company, valued at approximately $233,000, indicating continued investment interest in the aerospace firm.
• Despite an increase in revenue to $22.75 billion, Boeing reported an EPS loss of ($1.24) for the last quarter, missing estimates by $0.32.
• Analyst ratings for Boeing are mixed, with a consensus rating of "Moderate Buy" and an average target price of $230.77 following various adjustments in ratings by multiple analysts.

Optimize Financial Inc bought a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,369 shares of the aircraft producer's stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vestcor Inc grew its holdings in Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock worth $2,471,000 after acquiring an additional 1,195 shares in the last quarter. National Pension Service grew its stake in 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 purchasing an additional 218,049 shares in the last quarter. Wynn Capital LLC acquired a new position in Boeing in the first quarter worth about $584,000. Zimmer Partners LP bought a new stake in Boeing in the fourth quarter valued at about $393,736,000. Finally, MFG Wealth Management Inc. acquired a new stake in Boeing during the first quarter valued at approximately $2,125,000. Institutional investors own 64.82% of the company's stock.

Insider Buying and Selling

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, with a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on BA shares. Citigroup reiterated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Vertical Research upgraded Boeing from a "hold" rating to a "buy" rating and boosted their price target for the company from $242.00 to $270.00 in a report on Monday, September 8th. JPMorgan Chase & Co. boosted their price target on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Boeing presently has a consensus rating of "Moderate Buy" and an average target price of $230.77.

Boeing Price Performance

Shares of NYSE BA traded down $3.87 during mid-day trading on Friday, hitting $216.12. The company had a trading volume of 11,078,950 shares, compared to its average volume of 6,130,396. The stock has a market cap of $163.42 billion, a price-to-earnings ratio of -13.09 and a beta of 1.48. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The firm's 50 day simple moving average is $228.76 and its two-hundred day simple moving average is $199.21.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (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 analyst estimates of $20.13 billion. The company's revenue was up 34.9% on a year-over-year basis. During the same quarter last year, the business posted ($2.90) earnings per share. Equities analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

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.