Ascent Group LLC Has $1.64 Million Stock Position in The Boeing Company $BA

Key Points

• Ascent Group LLC increased its stake in Boeing by 28.6% in Q2, owning shares valued at approximately $1.64 million after purchasing an additional 1,743 shares.
• Several other institutional investors significantly adjusted their positions in Boeing, with Piscataqua Savings Bank raising its stake by an extraordinary 1,712.5% during the same period.
• Research firms have raised price targets for Boeing, with Bank of America setting a target of $270, reflecting growing analyst confidence in the company's stock performance.

Ascent Group LLC lifted its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 28.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,840 shares of the aircraft producer's stock after purchasing an additional 1,743 shares during the quarter. Ascent Group LLC's holdings in Boeing were worth $1,643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Piscataqua Savings Bank raised its position in shares of Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after purchasing an additional 137 shares during the period. Proathlete Wealth Management LLC bought a new stake in Boeing during the 1st quarter valued at $34,000. Monetary Management Group Inc. raised its holdings in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after buying an additional 50 shares during the last quarter. Dogwood Wealth Management LLC lifted its stake in shares of Boeing by 30.4% in the second quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer's stock valued at $52,000 after buying an additional 56 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Boeing during the second quarter valued at about $61,000. 64.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the acquisition, the director owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on BA. JPMorgan Chase & Co. upped their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Barclays boosted their price objective on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Bank of America raised their target price on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Susquehanna reiterated a "positive" rating and set a $270.00 price target on shares of Boeing in a report on Monday, September 15th. Finally, Sanford C. Bernstein raised their price objective on Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $233.91.

Boeing Stock Performance

Shares of BA stock opened at $216.32 on Monday. The firm has a market cap of $163.57 billion, a price-to-earnings ratio of -13.10 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 firm's 50-day simple moving average is $225.06 and its two-hundred day simple moving average is $205.21.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) 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 the consensus estimate of $20.13 billion. During the same period in the prior year, the firm posted ($2.90) EPS. The firm's revenue was up 34.9% compared to the same quarter last year. 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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