8,238 Shares in The Boeing Company (NYSE:BA) Purchased by Benedict Financial Advisors Inc.

Key Points

• Benedict Financial Advisors Inc. has acquired a new position in Boeing, purchasing 8,238 shares valued at approximately $1.4 million in the first quarter.
• Boeing's quarterly earnings showed a narrower loss than expected, reporting earnings per share of ($0.49), compared to a consensus estimate of ($1.39).
• Institutional investors own 64.82% of Boeing's stock, with multiple hedge funds increasing their stakes in the company recently.

Benedict Financial Advisors Inc. acquired a new stake in The Boeing Company (NYSE:BA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,238 shares of the aircraft producer's stock, valued at approximately $1,405,000.

A number of other large investors also recently bought and sold shares of the company. American National Bank & Trust grew its holdings in shares of Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after acquiring an additional 128 shares during the period. REAP Financial Group LLC raised its stake in shares of Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after buying an additional 65 shares during the last quarter. Dogwood Wealth Management LLC boosted its position in shares of Boeing by 167.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after buying an additional 112 shares in the last quarter. Solstein Capital LLC acquired a new stake in Boeing in the 4th quarter valued at about $33,000. Finally, Heck Capital Advisors LLC purchased a new position in Boeing during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insiders Place Their Bets

In other news, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president directly owned 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president 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. Insiders have sold 7,744 shares of company stock worth $1,511,370 over the last 90 days. Corporate insiders own 0.09% of the company's stock.

Boeing Stock Performance

Shares of Boeing stock traded up $1.75 during trading on Friday, reaching $233.02. The company's stock had a trading volume of 4,613,746 shares, compared to its average volume of 7,181,941. The business's fifty day moving average price is $213.01 and its 200-day moving average price is $186.85. The Boeing Company has a one year low of $128.88 and a one year high of $235.27. The firm has a market cap of $175.70 billion, a price-to-earnings ratio of -13.00 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. Boeing's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.13) earnings per share. Sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on BA. Citigroup increased their price target on Boeing from $220.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Jefferies Financial Group lifted their price target on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. Benchmark decreased their price target on shares of Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Finally, Bank of America raised Boeing from a "neutral" rating to a "buy" rating and increased their target price for the stock from $185.00 to $260.00 in a research report on Monday, June 2nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $221.55.

About Boeing

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.