Chevy Chase Trust Holdings LLC Buys 4,881 Shares of The Boeing Company $BA

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in Boeing Company by 1.2%, owning a total of 398,746 shares valued at approximately $83.5 million.
• Analysts have recently upgraded Boeing's stock ratings, with a target price ranging from $255 to $275 and an overall average rating of "Moderate Buy."
• Boeing reported a loss of $1.24 EPS in its latest quarterly earnings, missing analysts' estimates, but showed a 34.9% year-over-year revenue increase.

Chevy Chase Trust Holdings LLC raised its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 398,746 shares of the aircraft producer's stock after purchasing an additional 4,881 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Boeing worth $83,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Easterly Investment Partners LLC acquired a new position in Boeing during the 2nd quarter valued at about $1,275,000. Arista Wealth Management LLC acquired a new stake in Boeing during the 2nd quarter worth approximately $226,000. Kraft Davis & Associates LLC acquired a new position in shares of Boeing during the second quarter worth about $198,000. Harbor Asset Planning Inc. acquired a new stake in shares of Boeing in the second quarter valued at approximately $25,000. Finally, Werba Rubin Papier Wealth Management acquired a new stake in shares of Boeing in the second quarter valued at approximately $216,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BA has been the subject of several analyst reports. Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price for the company in a research note on Friday, June 27th. JPMorgan Chase & Co. lifted their price objective on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a research report on Tuesday, September 30th. KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Susquehanna reissued a "positive" rating and set a $270.00 target price on shares of Boeing in a research note on Monday, September 15th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Boeing presently has an average rating of "Moderate Buy" and an average price target of $240.20.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred 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 approximately $8,248,637.62. This represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was 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 owned 2,200 shares in the company, valued at $497,420. This represents 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.

Boeing Price Performance

Shares of BA stock opened at $211.94 on Friday. The business's 50 day simple moving average is $223.42 and its 200 day simple moving average is $207.25. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The stock has a market capitalization of $160.26 billion, a PE ratio of -12.84 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last posted 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 business had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. The business's quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter last year, the firm earned ($2.90) EPS. As a group, research analysts expect that The Boeing Company will post -2.58 earnings per share for the current 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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