1,985 Shares in The Boeing Company $BA Acquired by Hardman Johnston Global Advisors LLC

Key Points

• Hardman Johnston Global Advisors LLC acquired a new stake in The Boeing Company, purchasing 1,985 shares valued at approximately $416,000 during the second quarter.
• Boeing reported a quarterly revenue of $22.75 billion, significantly exceeding analyst estimates of $20.13 billion, despite an earnings per share loss of ($1.24) which missed expectations.
• Analysts have set a bullish outlook on Boeing, with several firms raising their price targets, including UBS Group's $280.00 target and Jefferies Financial Group's $255.00 target.

Hardman Johnston Global Advisors LLC acquired a new stake in shares of The Boeing Company (NYSE:BA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,985 shares of the aircraft producer's stock, valued at approximately $416,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC acquired a new stake in Boeing during the fourth quarter valued at approximately $201,000. Merit Financial Group LLC grew its position in Boeing by 9.1% during the first quarter. Merit Financial Group LLC now owns 18,511 shares of the aircraft producer's stock valued at $3,157,000 after purchasing an additional 1,551 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of Boeing by 9.4% during the 1st quarter. ST Germain D J Co. Inc. now owns 1,624 shares of the aircraft producer's stock valued at $277,000 after buying an additional 140 shares during the period. HBW Advisory Services LLC raised its holdings in shares of Boeing by 4.3% during the first quarter. HBW Advisory Services LLC now owns 1,557 shares of the aircraft producer's stock worth $266,000 after acquiring an additional 64 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Boeing by 17.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,188 shares of the aircraft producer's stock valued at $885,000 after buying an additional 769 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Up 0.9%

NYSE BA opened at $217.12 on Friday. The stock's 50 day moving average is $225.39 and its two-hundred day moving average is $204.38. The company has a market capitalization of $164.18 billion, a price-to-earnings ratio of -13.15 and a beta of 1.47. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last posted its 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 analyst estimates of $20.13 billion. Boeing's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.90) EPS. On average, analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity

In other news, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on BA shares. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a research report on Tuesday. Vertical Research upgraded shares of Boeing from a "hold" rating to a "buy" rating and raised their price objective for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. UBS Group set a $280.00 price target on Boeing and gave the company a "buy" rating in a research note on Wednesday, July 30th. Susquehanna restated a "positive" rating and set a $270.00 price target on shares of Boeing in a research note on Monday, September 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and a consensus price target of $233.91.

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.

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