Appian Way Asset Management LP Buys Shares of 36,666 The Boeing Company $BA

Key Points

• Appian Way Asset Management LP acquired a new position in The Boeing Company, purchasing 36,666 shares valued at approximately $6.25 million, making it the fund's 15th largest holding.
• Boeing reported a loss of $1.24 EPS for the last quarter, missing analysts' expectations, but saw a significant year-over-year revenue increase of 34.9% to $22.75 billion.
• Currently, Boeing has an average rating of "Moderate Buy" among analysts, with a consensus price target set at $228.90 per share.

Appian Way Asset Management LP bought a new stake in The Boeing Company (NYSE:BA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 36,666 shares of the aircraft producer's stock, valued at approximately $6,253,000. Boeing accounts for about 1.4% of Appian Way Asset Management LP's portfolio, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BA. American National Bank & Trust boosted its stake in Boeing by 474.1% in 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 period. REAP Financial Group LLC boosted its stake in Boeing by 60.2% in 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 period. Dogwood Wealth Management LLC boosted its stake in Boeing by 167.2% in 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 period. Heck Capital Advisors LLC acquired a new position in Boeing in the fourth quarter valued at approximately $33,000. Finally, Proathlete Wealth Management LLC acquired a new position in Boeing in the first quarter valued at approximately $34,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BA. UBS Group set a $280.00 price objective on Boeing and gave the stock a "buy" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. TD Securities downgraded Boeing to a "cautious" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group set a $212.00 price objective on Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Bank of America boosted their price objective on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and a consensus target price of $228.90.

Insider Buying and Selling at Boeing

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

Boeing Stock Down 0.6%

BA traded down $1.35 during trading on Friday, reaching $229.40. The stock had a trading volume of 8,198,359 shares, compared to its average volume of 5,748,445. The firm has a market capitalization of $173.46 billion, a price-to-earnings ratio of -13.89 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 has a 50 day moving average of $227.54 and a two-hundred day moving average of $197.69.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. Boeing's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the business earned ($2.90) EPS. On average, research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal 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.