Aberdeen Group plc Boosts Stock Holdings in The Boeing Company $BA

Key Points

• Aberdeen Group plc increased its holdings in The Boeing Company by 4.9%, now owning approximately 521,986 shares valued at around $109.37 million after acquiring an additional 24,180 shares during the 2nd quarter.
• Boeing reported an EPS of ($1.24) for the last quarter, which was below analysts' expectations, despite a revenue of $22.75 billion that surpassed estimates by over 13%.
• Analysts have mixed ratings on Boeing, with a consensus of "Moderate Buy" and an average price target of $233.91, reflecting varying outlooks on its stock performance.

Aberdeen Group plc boosted its position in The Boeing Company (NYSE:BA - Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 521,986 shares of the aircraft producer's stock after purchasing an additional 24,180 shares during the period. Aberdeen Group plc owned about 0.07% of Boeing worth $109,372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vestcor Inc raised its holdings in Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after acquiring an additional 1,195 shares during the period. National Pension Service raised its holdings in Boeing by 19.6% during the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock valued at $227,365,000 after acquiring an additional 218,049 shares during the period. MFG Wealth Management Inc. bought a new stake in Boeing during the 1st quarter valued at $2,125,000. Kelman Lazarov Inc. bought a new stake in Boeing during the 1st quarter valued at $262,000. Finally, McElhenny Sheffield Capital Management LLC bought a new stake in Boeing during the 2nd quarter valued at $62,859,000. Institutional investors own 64.82% of the company's stock.

Boeing Stock Down 2.3%

BA opened at $211.04 on Friday. The stock has a market cap of $159.58 billion, a PE ratio of -12.78 and a beta of 1.47. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The business's fifty day simple moving average is $224.29 and its 200 day simple moving average is $206.19.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates 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. The firm's revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.90) earnings per share. As a group, equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on BA shares. Citigroup reissued a "buy" rating on shares of Boeing in a report on Monday, July 28th. Vertical Research raised shares of Boeing from a "hold" rating to a "buy" rating and upped their price target for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Sanford C. Bernstein upped their price target on shares of Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a report on Thursday, October 2nd. JPMorgan Chase & Co. upped their price target on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, Bank of America upped their price target on shares of Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $233.91.

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.

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.