Arbor Wealth Advisors LLC Buys Shares of 5,239 The Boeing Company $BA

Key Points

• Arbor Wealth Advisors LLC has acquired 5,239 shares of Boeing, valued at approximately $1,098,000, making it the firm's 20th largest position.
• Major institutional investors such as Vanguard Group Inc. and Canada Pension Plan Investment Board have significantly increased their stakes in Boeing, reflecting a growing confidence in the company's stock.
• Boeing's latest earnings report indicated a revenue increase of 34.9% year-over-year, although it reported a loss of ($1.24) EPS, which missed the consensus estimate by ($0.32).

Arbor Wealth Advisors LLC acquired a new position in The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,239 shares of the aircraft producer's stock, valued at approximately $1,098,000. Boeing makes up approximately 0.9% of Arbor Wealth Advisors LLC's investment portfolio, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sovran Advisors LLC lifted its position in Boeing by 1.8% during the second quarter. Sovran Advisors LLC now owns 3,552 shares of the aircraft producer's stock valued at $776,000 after buying an additional 62 shares during the period. Financial Management Network Inc. lifted its position in Boeing by 2.9% during the second quarter. Financial Management Network Inc. now owns 4,578 shares of the aircraft producer's stock valued at $989,000 after buying an additional 127 shares during the period. Jackson Square Capital LLC purchased a new position in Boeing during the second quarter valued at $4,400,000. Sivia Capital Partners LLC lifted its position in Boeing by 16.5% during the second quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer's stock valued at $320,000 after buying an additional 217 shares during the period. Finally, Intelligence Driven Advisers LLC purchased a new position in Boeing during the second quarter valued at $2,028,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insiders Place Their Bets

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of the stock in a transaction 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 acquisition, the director owned 2,200 shares of the company's stock, valued at $497,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Boeing Stock Performance

Shares of NYSE:BA traded down $3.39 during midday trading on Monday, reaching $212.26. 7,340,549 shares of the company's stock traded hands, compared to its average volume of 6,313,642. The company has a market cap of $160.50 billion, a price-to-earnings ratio of -12.86 and a beta of 1.48. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The stock has a 50 day moving average of $227.61 and a 200 day moving average of $201.73.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. Boeing's quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.90) earnings per share. Sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

BA has been the subject of several recent research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 price objective on shares of Boeing in a research report on Wednesday, July 30th. Citigroup reissued a "buy" rating on shares of Boeing in a report on Monday, July 28th. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Vertical Research raised Boeing from a "hold" rating to a "buy" rating and boosted their target price for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.