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

Key Points

• Aberdeen Group plc increased its stake in Boeing by 88.8% in Q1, acquiring an additional 234,204 shares, bringing their total to 497,806 shares worth approximately $85.1 million.
• Analysts have raised Boeing's price targets, with JPMorgan Chase increasing their target from $230 to $251, while UBS set a target of $280, indicating strong optimism in the company's performance.
• Boeing reported a loss of $1.24 EPS for the last quarter, missing expectations, but revenue rose by 34.9% year-over-year to $22.75 billion, surpassing consensus estimates.

Aberdeen Group plc boosted its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 88.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 497,806 shares of the aircraft producer's stock after purchasing an additional 234,204 shares during the quarter. Aberdeen Group plc owned approximately 0.07% of Boeing worth $85,102,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. American National Bank & Trust raised its holdings in shares of Boeing by 474.1% during 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 raised its holdings in shares of Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after acquiring an additional 65 shares during the last quarter. Dogwood Wealth Management LLC raised its holdings in shares of Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after acquiring an additional 112 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Boeing during the fourth quarter valued at approximately $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Boeing by 122.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 191 shares of the aircraft producer's stock valued at $34,000 after acquiring an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on BA shares. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Barclays increased their target price on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. increased their target price on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Bank of America increased their price target on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Citigroup reaffirmed a "buy" rating on shares of Boeing in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $228.90.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company's stock.

Boeing Trading Up 0.3%

Boeing stock traded up $0.5830 during mid-day trading on Wednesday, hitting $225.5830. The company's stock had a trading volume of 1,336,411 shares, compared to its average volume of 8,387,793. The firm has a market capitalization of $170.58 billion, a PE ratio of -13.66 and a beta of 1.48. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock's fifty day moving average is $219.94 and its two-hundred day moving average is $193.33.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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 the consensus estimate of $20.13 billion. The business's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the firm earned ($2.90) EPS. On average, equities analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.