1,451 Shares in The Boeing Company $BA Purchased by Transcendent Capital Group LLC

Key Points

• Transcendent Capital Group LLC has acquired 1,451 shares of The Boeing Company, valued at around $304,000, signaling growing interest from institutional investors in the aerospace sector.
• The Boeing Company reported earnings of ($1.24) per share for the last quarter, missing estimates but achieving revenue of $22.75 billion, which reflects a 34.9% increase compared to the previous year.
• Brokerages have updated their outlook on Boeing, with some raising target prices; for example, Sanford C. Bernstein increased its target from $249 to $282 and maintained an "outperform" rating.

Transcendent Capital Group LLC bought a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,451 shares of the aircraft producer's stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vestcor Inc increased its stake in shares of Boeing by 9.0% during the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after purchasing an additional 1,195 shares in the last quarter. National Pension Service increased its stake in shares of Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock valued at $227,365,000 after purchasing an additional 218,049 shares in the last quarter. MFG Wealth Management Inc. bought a new position in shares of Boeing during the first quarter valued at approximately $2,125,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Boeing during the second quarter valued at approximately $62,859,000. Finally, Kelman Lazarov Inc. bought a new position in shares of Boeing during the first quarter valued at approximately $262,000. Institutional investors own 64.82% of the company's stock.

Insider Activity at Boeing

In related news, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company's stock, valued at $497,420. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares in the company, 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 Trading Down 2.3%

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

Boeing (NYSE:BA - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter in the prior year, the company earned ($2.90) EPS. The company's revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BA. Sanford C. Bernstein raised their target price on shares of Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Boeing in a report on Wednesday. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target on the stock in a report on Friday, June 27th. UBS Group set a $280.00 price target on shares of Boeing and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $250.00 price target on shares of Boeing in a report on Monday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Boeing presently has an average rating of "Moderate Buy" and an average price target of $233.91.

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.

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