Easterly Investment Partners LLC Invests $1.28 Million in The Boeing Company $BA

Key Points

• Easterly Investment Partners LLC has invested approximately $1.28 million in The Boeing Company by acquiring 6,086 shares during the second quarter.
• Boeing's recent earnings report showed a loss of ($1.24) EPS, missing estimates, but with revenue of $22.75 billion, exceeding projections.
• Several analysts have upgraded Boeing's stock ratings, with price targets raised to as high as $275.00 from firms like Redburn Atlantic and Vertical Research.

Easterly Investment Partners LLC bought a new position in The Boeing Company (NYSE:BA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,086 shares of the aircraft producer's stock, valued at approximately $1,275,000.

A number of other hedge funds have also recently modified their holdings of the stock. Aspire Capital Advisors LLC boosted its stake in shares of Boeing by 0.8% in the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer's stock worth $1,245,000 after buying an additional 45 shares during the last quarter. Lantz Financial LLC raised its holdings in Boeing by 1.5% in the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer's stock worth $644,000 after purchasing an additional 46 shares during the period. Atlas Brown Inc. raised its holdings in Boeing by 0.7% in the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock worth $1,362,000 after purchasing an additional 48 shares during the period. Moody National Bank Trust Division raised its holdings in Boeing by 2.7% in the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer's stock worth $385,000 after purchasing an additional 48 shares during the period. Finally, Heck Capital Advisors LLC raised its holdings in Boeing by 3.6% in the 2nd quarter. Heck Capital Advisors LLC now owns 1,398 shares of the aircraft producer's stock worth $293,000 after purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Price Performance

Shares of Boeing stock opened at $213.09 on Friday. The business has a 50 day simple moving average of $223.10 and a two-hundred day simple moving average of $207.56. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock has a market capitalization of $161.13 billion, a P/E ratio of -12.91 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) 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 analyst estimates of $20.13 billion. During the same period in the prior year, the firm earned ($2.90) earnings per share. Boeing's revenue was up 34.9% on a year-over-year basis. As a group, research analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on BA. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and upped their price target for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Vertical Research raised Boeing from a "hold" rating to a "buy" rating and upped their price target for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $250.00 price target on shares of Boeing in a report on Monday, September 29th. KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Boeing in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $240.20.

Insider Buying and Selling

In other news, EVP David Christopher Raymond sold 3,771 shares of the company'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 completion of the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This 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 at this link. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares of the company's stock, valued at approximately $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 owned by corporate insiders.

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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