Cairn Investment Group Inc. Makes New $289,000 Investment in The Boeing Company $BA

Key Points

• Cairn Investment Group Inc. made a new investment of approximately $289,000 in The Boeing Company, acquiring 1,380 shares during the second quarter.
• Institutional investors own 64.82% of Boeing's stock, with multiple hedge funds increasing their stakes significantly in the recent past.
• Boeing recently received several upgrades from analysts, with targets set as high as $275.00, reflecting growing confidence in the company's performance.

Cairn Investment Group Inc. acquired a new stake in shares of The Boeing Company (NYSE:BA - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 1,380 shares of the aircraft producer's stock, valued at approximately $289,000.

Other hedge funds also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new position in shares of Boeing in the fourth quarter worth approximately $201,000. Versant Capital Management Inc lifted its stake in shares of Boeing by 70.0% during the 1st quarter. Versant Capital Management Inc now owns 1,379 shares of the aircraft producer's stock valued at $235,000 after buying an additional 568 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Boeing by 19,333.1% in the 1st quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer's stock worth $170,190,000 after buying an additional 992,753 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in Boeing by 248.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 9,953 shares of the aircraft producer's stock worth $1,697,000 after buying an additional 7,093 shares during the period. Finally, Sterneck Capital Management LLC boosted its holdings in Boeing by 3.7% in the 1st quarter. Sterneck Capital Management LLC now owns 3,103 shares of the aircraft producer's stock worth $529,000 after buying an additional 111 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Insider Transactions at Boeing

In related news, Director Mortimer J. Buckley purchased 2,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BA has been the topic of a number of recent analyst reports. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target on the stock in a report on Friday, June 27th. Citigroup reissued a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Bank of America upped their price target on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Boeing has an average rating of "Moderate Buy" and a consensus price target of $230.77.

Boeing Stock Performance

NYSE BA opened at $221.28 on Monday. The stock has a 50 day moving average price of $226.53 and a 200-day moving average price of $203.45. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The company has a market capitalization of $167.32 billion, a P/E ratio of -13.40 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter last year, the firm posted ($2.90) earnings per share. The firm's quarterly revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal 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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