Belpointe Asset Management LLC Acquires 2,358 Shares of The Boeing Company $BA

Key Points

• Belpointe Asset Management LLC increased its stake in Boeing by 19.4%, holding a total of 14,492 shares worth approximately $3.03 million after acquiring an additional 2,358 shares in the second quarter.
• Wall Street analysts showed optimism for Boeing, with firms like Sanford C. Bernstein and Redburn Atlantic raising their price targets, leading to a consensus target price of $233.91.
• Boeing's stock price is currently at $219.62, reflecting a recent 1.5% increase, with a market capitalization of approximately $166.07 billion despite a reported loss of ($1.24) earnings per share for the last quarter.

Belpointe Asset Management LLC boosted its holdings in The Boeing Company (NYSE:BA - Free Report) by 19.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,492 shares of the aircraft producer's stock after purchasing an additional 2,358 shares during the quarter. Belpointe Asset Management LLC's holdings in Boeing were worth $3,037,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vestcor Inc increased its stake in Boeing by 9.0% in the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after buying an additional 1,195 shares during the last quarter. National Pension Service grew its stake in shares of Boeing by 19.6% during the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock worth $227,365,000 after acquiring an additional 218,049 shares during the period. MFG Wealth Management Inc. purchased a new position in shares of Boeing in the first quarter worth about $2,125,000. Kelman Lazarov Inc. purchased a new stake in shares of Boeing during the 1st quarter valued at approximately $262,000. Finally, Vanguard Group Inc. boosted its holdings in Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after buying an additional 1,212,327 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BA. Sanford C. Bernstein lifted their price target on Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a research report on Thursday, October 2nd. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a report on Thursday, June 12th. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and upped their target price for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Finally, Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a report on Friday, June 27th. Three investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.91.

Insider Transactions at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the firm's 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 sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares of the company's stock, valued at approximately $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 Up 1.5%

Shares of NYSE:BA opened at $219.62 on Tuesday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The company's fifty day moving average is $224.72 and its 200 day moving average is $205.50. The stock has a market cap of $166.07 billion, a PE ratio of -13.30 and a beta of 1.47.

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

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.

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