Curbstone Financial Management Corp Takes $489,000 Position in The Boeing Company $BA

Key Points

• Curbstone Financial Management Corp acquired a new position in Boeing, purchasing 2,336 shares valued at approximately $489,000 during the second quarter.
• Several large investors, including Vestcor Inc and National Pension Service, have recently increased their stakes in Boeing, indicating strong institutional interest in the company.
• Boeing received positive analyst ratings, with price targets raised to $270.00 and $275.00 by Susquehanna and Rothschild & Co Redburn, respectively.

Curbstone Financial Management Corp 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 2,336 shares of the aircraft producer's stock, valued at approximately $489,000.

Other large investors have also recently made changes to their positions in the company. Vestcor Inc lifted its position in shares of Boeing by 9.0% during 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 in the last quarter. National Pension Service lifted its holdings in Boeing by 19.6% in the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock worth $227,365,000 after purchasing an additional 218,049 shares in the last quarter. MFG Wealth Management Inc. purchased a new position in Boeing in the 1st quarter worth approximately $2,125,000. McElhenny Sheffield Capital Management LLC purchased a new position in Boeing in the 2nd quarter worth approximately $62,859,000. Finally, Kelman Lazarov Inc. purchased a new position in Boeing in the 1st quarter worth approximately $262,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the transaction, the director directly owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, 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 completion of the sale, the executive vice president owned 35,873 shares of the company's stock, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BA shares. Susquehanna reissued a "positive" rating and issued a $270.00 price target on shares of Boeing in a report on Monday, September 15th. 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. Bank of America boosted their price target on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. Finally, KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $240.20.

Boeing Stock Up 0.6%

Shares of Boeing stock opened at $213.09 on Friday. The stock's fifty day moving average is $223.10 and its two-hundred day moving average is $207.83. The company has a market capitalization of $161.13 billion, a PE ratio of -12.91 and a beta of 1.47. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate 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 firm's revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.90) earnings per share. As a group, research analysts anticipate 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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