Brookwood Investment Group LLC Makes New $625,000 Investment in The Boeing Company (NYSE:BA)

Key Points

• Brookwood Investment Group LLC has acquired a new position in The Boeing Company, purchasing 3,663 shares valued at approximately $625,000 in the first quarter of 2023.
• Institutional investors now own 64.82% of Boeing's stock, with several hedge funds significantly increasing their holdings, including a 474.1% lift by American National Bank & Trust.
• Despite a 17.7% year-over-year increase in revenue, Boeing reported a loss of ($0.49) earnings per share for the last quarter, surpassing analysts' estimates of ($1.39).

Brookwood Investment Group LLC purchased a new position in The Boeing Company (NYSE:BA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,663 shares of the aircraft producer's stock, valued at approximately $625,000.

Several other institutional investors have also recently made changes to their positions in BA. American National Bank & Trust increased its stake in Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after acquiring an additional 128 shares during the last quarter. REAP Financial Group LLC grew its stake in shares of Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after purchasing an additional 65 shares during the last quarter. Dogwood Wealth Management LLC lifted its holdings in Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after buying an additional 112 shares during the period. Solstein Capital LLC purchased a new stake in Boeing in the fourth quarter worth about $33,000. Finally, Heck Capital Advisors LLC purchased a new stake in Boeing in the fourth quarter worth about $33,000. Institutional investors own 64.82% of the company's stock.

Boeing Stock Up 0.9%

Shares of NYSE BA traded up $2.18 during trading on Monday, hitting $235.24. The company had a trading volume of 2,868,484 shares, compared to its average volume of 8,510,655. The stock has a fifty day simple moving average of $213.01 and a two-hundred day simple moving average of $186.96. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $235.65. The firm has a market capitalization of $177.37 billion, a price-to-earnings ratio of -13.10 and a beta of 1.41.

Insider Transactions at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president directly owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the transaction, the executive vice president directly owned 20,513 shares in the company, valued at $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,744 shares of company stock valued at $1,511,370. Corporate insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BA shares. Jefferies Financial Group lifted their target price on shares of Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Cowen reaffirmed a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and boosted their price objective for the company from $180.00 to $275.00 in a research report on Friday, June 27th. The Goldman Sachs Group set a $212.00 price objective on shares of Boeing and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, TD Securities cut shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $221.55.

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.