Bangor Savings Bank Raises Position in The Boeing Company $BA

Key Points

• Bangor Savings Bank increased its stake in Boeing by 82.9%, acquiring a total of 10,028 shares valued at approximately $2.1 million.
• Boeing recently reported an EPS of -$1.24, missing estimates, but its revenue rose 34.9% year-over-year to $22.75 billion.
• Equities analysts have a mixed outlook on Boeing, with ratings ranging from Strong Buy to Sell, and an average target price of $230.77.

Bangor Savings Bank raised its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 82.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,028 shares of the aircraft producer's stock after purchasing an additional 4,545 shares during the period. Bangor Savings Bank's holdings in Boeing were worth $2,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American National Bank & Trust raised its position in 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 purchasing an additional 128 shares during the period. REAP Financial Group LLC raised its position in 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 purchasing an additional 65 shares during the period. Dogwood Wealth Management LLC raised its position in 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 purchasing an additional 112 shares during the period. Heck Capital Advisors LLC purchased a new stake in Boeing during the fourth quarter valued at approximately $33,000. Finally, Proathlete Wealth Management LLC purchased a new stake in Boeing during the first quarter valued at approximately $34,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Down 1.8%

BA opened at $216.12 on Friday. The stock's fifty day moving average is $228.76 and its two-hundred day moving average is $199.39. The company has a market capitalization of $163.42 billion, a P/E ratio of -13.09 and a beta of 1.48. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.90) EPS. Equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Wall Street Zen downgraded Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Jefferies Financial Group increased their price target on Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Bank of America increased their price target on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $230.77.

Insider Buying and Selling at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the firm'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 directly owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company's stock.

About Boeing

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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