D.A. Davidson & CO. Grows Position in The Boeing Company $BA

Key Points

• D.A. Davidson & CO. increased its stake in Boeing by 33.5%, owning 194,236 shares worth approximately $40.7 million as of the latest SEC filing.
• Boeing reported a loss of $1.24 EPS for Q2, missing the consensus estimate but achieved a revenue of $22.75 billion, exceeding expectations.
• Analysts have shown optimism, with several upgrades to Boeing's stock rating, resulting in a consensus price target of $240.20.

D.A. Davidson & CO. boosted its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 33.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 194,236 shares of the aircraft producer's stock after purchasing an additional 48,702 shares during the period. D.A. Davidson & CO.'s holdings in Boeing were worth $40,698,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Gables Capital Management Inc. grew its position in Boeing by 3.2% during the 2nd quarter. Gables Capital Management Inc. now owns 11,003 shares of the aircraft producer's stock worth $2,305,000 after purchasing an additional 340 shares during the last quarter. Wallace Advisory Group LLC grew its position in Boeing by 1.2% during the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer's stock worth $748,000 after purchasing an additional 44 shares during the last quarter. IMG Wealth Management Inc. grew its position in Boeing by 159.4% during the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer's stock worth $38,000 after purchasing an additional 110 shares during the last quarter. Syntegra Private Wealth Group LLC grew its position in Boeing by 1.2% during the 2nd quarter. Syntegra Private Wealth Group LLC now owns 7,455 shares of the aircraft producer's stock worth $1,562,000 after purchasing an additional 85 shares during the last quarter. Finally, VCI Wealth Management LLC grew its position in Boeing by 12.2% during the 2nd quarter. VCI Wealth Management LLC now owns 4,713 shares of the aircraft producer's stock worth $988,000 after purchasing an additional 514 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Price Performance

BA opened at $217.29 on Wednesday. The firm has a fifty day moving average price of $222.62 and a 200 day moving average price of $208.85. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a market cap of $164.30 billion, a P/E ratio of -13.16 and a beta of 1.47.

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

Insider Buying and Selling at Boeing

In other news, Director Mortimer J. Buckley bought 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction 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 owned 35,873 shares of the company's stock, valued at approximately $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. Insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

BA has been the topic of several research analyst reports. Citigroup reissued a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research note on Tuesday, September 30th. Susquehanna restated a "positive" rating and set a $270.00 price objective on shares of Boeing in a research note on Monday, September 15th. Sanford C. Bernstein lifted their price objective on shares of Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Finally, Redburn Atlantic upgraded 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 research note on Friday, June 27th. Three 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 issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $240.20.

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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