Bayforest Capital Ltd Makes New $588,000 Investment in The Boeing Company $BA

Key Points

• Bayforest Capital Ltd has made a new investment in The Boeing Company, acquiring 2,806 shares valued at approximately $588,000 during the 2nd quarter.
• Wall Street analysts are optimistic about Boeing's prospects, with several firms upgrading their ratings to "buy" or "strong-buy" and setting target prices ranging from $275.00 to $282.00.
• Boeing recently reported a revenue increase of 34.9% year-over-year, totaling $22.75 billion, despite an EPS loss of ($1.24) for the quarter.

Bayforest Capital Ltd acquired a new stake in shares of The Boeing Company (NYSE:BA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,806 shares of the aircraft producer's stock, valued at approximately $588,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Piscataqua Savings Bank grew its stake in Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after acquiring an additional 137 shares in the last quarter. Proathlete Wealth Management LLC bought a new position in shares of Boeing during the 1st quarter valued at approximately $34,000. Monetary Management Group Inc. grew its stake in shares of Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after buying an additional 50 shares in the last quarter. Keener Financial Planning LLC bought a new stake in shares of Boeing in the 2nd quarter worth about $41,000. Finally, Columbia River Financial Group LLC purchased a new stake in Boeing during the first quarter valued at approximately $50,000. Institutional investors own 64.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BA shares. Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective on the stock in a research report on Friday, June 27th. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Sanford C. Bernstein lifted their target price on Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a research report on Thursday, October 2nd. UBS Group set a $280.00 target price on shares of Boeing and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from $180.00 to $275.00 in a report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Boeing presently has an average rating of "Moderate Buy" and a consensus target price of $240.20.

Boeing Price Performance

NYSE BA opened at $214.31 on Wednesday. The company has a market cap of $162.05 billion, a price-to-earnings ratio of -12.98 and a beta of 1.47. The stock's fifty day moving average price is $223.95 and its 200 day moving average price is $206.92. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results 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 the consensus estimate of $20.13 billion. The business's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.90) earnings per share. Research analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was acquired 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 directly owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

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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