Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 1,904 Shares of The Boeing Company $BA

Key Points

• Empirical Financial Services LLC increased its stake in Boeing by 14.1% during Q2, acquiring an additional 1,904 shares, bringing their total holdings to 15,416 shares valued at approximately $3.23 million.
• Boeing's stock opened at $216.32 and reported a 34.9% revenue increase year-over-year, though it missed earnings estimates for the last quarter with an EPS of ($1.24).
• Analysts maintain a consensus rating of "Moderate Buy" for Boeing, with various price targets ranging from $210.00 to $280.00.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 14.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,416 shares of the aircraft producer's stock after purchasing an additional 1,904 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Boeing were worth $3,230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Piscataqua Savings Bank grew its holdings in Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after acquiring an additional 137 shares during the last quarter. Proathlete Wealth Management LLC bought a new stake in Boeing during the 1st quarter worth approximately $34,000. Monetary Management Group Inc. grew its holdings in Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after acquiring an additional 50 shares during the last quarter. Columbia River Financial Group LLC bought a new stake in Boeing during the 1st quarter worth approximately $50,000. Finally, Iron Horse Wealth Management LLC grew its holdings in Boeing by 33.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer's stock worth $51,000 after acquiring an additional 75 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Down 0.5%

Boeing stock opened at $216.32 on Friday. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The firm's fifty day moving average is $225.06 and its 200 day moving average is $204.76. The company has a market capitalization of $163.57 billion, a PE ratio of -13.10 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last released its 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 in the previous year, the firm earned ($2.90) EPS. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. Sell-side analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction on Tuesday, August 19th. The shares were 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 approximately $497,420. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $867,103.74. Following the transaction, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BA. UBS Group set a $280.00 price target on shares of Boeing and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Barclays boosted their price target on shares of Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Susquehanna restated a "positive" rating and issued a $270.00 price target on shares of Boeing in a research report on Monday, September 15th. Bank of America boosted their price target on shares of Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.91.

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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