Bank Pictet & Cie Europe AG Purchases 37,000 Shares of The Boeing Company $BA

Key Points

• Bank Pictet & Cie Europe AG increased its holdings in Boeing by 83.6% during the 2nd quarter, acquiring an additional 37,000 shares to total 81,278 shares valued at approximately $17.03 million.
• Institutional investors collectively own 64.82% of Boeing's stock, with several firms making large percentage increases in their stakes recently, including Piscataqua Savings Bank and American National Bank & Trust.
• Boeing reported a loss of $1.24 EPS in its latest quarter, missing forecasts, although revenue increased by 34.9% year-over-year to $22.75 billion.

Bank Pictet & Cie Europe AG raised its position in The Boeing Company (NYSE:BA - Free Report) by 83.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 81,278 shares of the aircraft producer's stock after acquiring an additional 37,000 shares during the period. Bank Pictet & Cie Europe AG's holdings in Boeing were worth $17,030,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of BA. Piscataqua Savings Bank raised its stake in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after purchasing an additional 137 shares in the last quarter. American National Bank & Trust raised its stake in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after purchasing an additional 128 shares in the last quarter. Proathlete Wealth Management LLC bought a new stake in shares of Boeing during the 1st quarter worth approximately $34,000. Monetary Management Group Inc. raised its stake in shares of Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after purchasing an additional 50 shares in the last quarter. Finally, Columbia River Financial Group LLC bought a new stake in shares of Boeing during the 1st quarter worth approximately $50,000. Institutional investors own 64.82% of the company's stock.

Analyst Upgrades and Downgrades

BA has been the topic of a number of analyst reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. 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. JPMorgan Chase & Co. boosted their target price on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, 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. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $230.77.

Boeing Price Performance

Shares of NYSE BA opened at $213.60 on Friday. The stock's fifty day moving average price is $226.69 and its two-hundred day moving average price is $202.38. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The firm has a market cap of $161.52 billion, a price-to-earnings ratio of -12.94 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS 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. During the same quarter last year, the company posted ($2.90) earnings per share. Boeing's quarterly revenue was up 34.9% on a year-over-year basis. On average, equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 directly 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 SEC, which is available through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the firm's 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 completion of the acquisition, the director owned 2,200 shares in the company, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Boeing 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.