Adams Diversified Equity Fund Inc. Takes Position in The Boeing Company $BA

Key Points

• Adams Diversified Equity Fund Inc. acquired a new stake in Boeing, purchasing 120,600 shares valued at approximately $25.27 million, making Boeing its 29th largest holding.
• Several research analysts have issued ratings on Boeing, with a consensus price target of $240.20, indicating a generally positive outlook among analysts.
• Boeing reported a quarterly loss of ($1.24) per share, missing estimates, but showed a year-over-year revenue increase of 34.9%.

Adams Diversified Equity Fund Inc. acquired a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 120,600 shares of the aircraft producer's stock, valued at approximately $25,269,000. Boeing makes up 0.9% of Adams Diversified Equity Fund Inc.'s investment portfolio, making the stock its 29th largest holding.

A number of other institutional investors have also recently made changes to their positions in BA. Harbor Asset Planning Inc. purchased a new position in Boeing in the second quarter worth about $25,000. Piscataqua Savings Bank grew its position in Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after acquiring an additional 137 shares in the last quarter. Monetary Management Group Inc. grew its position in Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after acquiring an additional 50 shares in the last quarter. IMG Wealth Management Inc. grew its position in Boeing by 159.4% in the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer's stock worth $38,000 after acquiring an additional 110 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new position in Boeing in the second quarter worth about $41,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Susquehanna reiterated a "positive" rating and issued a $270.00 price target on shares of Boeing in a research report on Monday, September 15th. Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective for the company in a research note on Friday, June 27th. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research note on Tuesday, September 30th. Sanford C. Bernstein raised their price objective on shares of Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a research note on Thursday, October 2nd. Finally, KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $240.20.

Insider Activity at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares of the company's stock, valued at approximately $497,420. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was 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 directly owned 35,873 shares of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Boeing Stock Performance

Boeing stock opened at $217.29 on Wednesday. The company has a 50 day moving average price of $222.62 and a 200-day moving average price of $208.85. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The company has a market capitalization of $164.30 billion, a PE ratio of -13.16 and a beta of 1.47.

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

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.

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