Wright Investors Service Inc. Buys New Stake in The Boeing Company $BA

Key Points

• Wright Investors Service Inc. acquired 8,740 shares of Boeing, valued at approximately $1.83 million, during the second quarter, according to their SEC disclosure.
• Boeing's latest quarterly earnings report indicated an EPS of (1.24), missing the consensus estimate by (0.32), despite a revenue increase of 34.9% year-over-year.
• Analysts have upgraded Boeing's stock ratings, with Barclays raising their price target from $210.00 to $255.00 and others following suit, indicating strong market optimism.

Wright Investors Service Inc. bought a new stake in shares of The Boeing Company (NYSE:BA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,740 shares of the aircraft producer's stock, valued at approximately $1,831,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Revolve Wealth Partners LLC purchased a new position in shares of Boeing in the 4th quarter worth approximately $201,000. Bank Pictet & Cie Europe AG purchased a new position in shares of Boeing in the 4th quarter worth approximately $7,837,000. Vident Advisory LLC grew its position in shares of Boeing by 21.9% in the 4th quarter. Vident Advisory LLC now owns 8,879 shares of the aircraft producer's stock worth $1,572,000 after buying an additional 1,595 shares during the last quarter. Cornerstone Advisory LLC grew its position in shares of Boeing by 15.4% in the 4th quarter. Cornerstone Advisory LLC now owns 2,831 shares of the aircraft producer's stock worth $522,000 after buying an additional 378 shares during the last quarter. Finally, Retirement Planning Group LLC purchased a new position in shares of Boeing in the 4th quarter worth approximately $219,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Trading Up 2.4%

NYSE BA traded up $5.14 on Tuesday, hitting $217.23. 9,480,235 shares of the company's stock traded hands, compared to its average volume of 8,214,185. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The firm's 50-day moving average price is $227.61 and its two-hundred day moving average price is $201.73. The firm has a market capitalization of $164.26 billion, a PE ratio of -13.13 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. During the same period last year, the firm posted ($2.90) EPS. The company's revenue for the quarter was up 34.9% on a year-over-year basis. On average, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In other news, Director Mortimer J. Buckley bought 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction 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 approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BA. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 target price on shares of Boeing in a research report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $230.77.

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.