Envestnet Portfolio Solutions Inc. Has $5.21 Million Stake in The Boeing Company $BA

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in The Boeing Company by 14.4%, holding 24,849 shares valued at approximately $5.21 million as of the latest SEC filing.
• Several institutional investors expanded their positions in Boeing during the second quarter, with Vest Financial LLC leading at a 39.2% increase in shares.
• Research analysts have positively revised their ratings for Boeing, with upgrades from multiple firms including a shift to a "strong-buy" rating and a price target increase to $275 from already favorable levels.

Envestnet Portfolio Solutions Inc. grew its position in The Boeing Company (NYSE:BA - Free Report) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,849 shares of the aircraft producer's stock after purchasing an additional 3,125 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Boeing were worth $5,207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its position in shares of Boeing by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 65,051 shares of the aircraft producer's stock valued at $13,630,000 after purchasing an additional 300 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Boeing by 14.5% in the second quarter. Sequoia Financial Advisors LLC now owns 38,283 shares of the aircraft producer's stock valued at $8,021,000 after purchasing an additional 4,847 shares during the last quarter. Vest Financial LLC grew its position in shares of Boeing by 39.2% in the second quarter. Vest Financial LLC now owns 15,700 shares of the aircraft producer's stock valued at $3,290,000 after purchasing an additional 4,425 shares during the last quarter. Pegasus Asset Management Inc. grew its position in shares of Boeing by 2.3% in the second quarter. Pegasus Asset Management Inc. now owns 13,023 shares of the aircraft producer's stock valued at $2,729,000 after purchasing an additional 287 shares during the last quarter. Finally, MGO One Seven LLC grew its position in shares of Boeing by 14.7% in the second quarter. MGO One Seven LLC now owns 9,699 shares of the aircraft producer's stock valued at $2,032,000 after purchasing an additional 1,240 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Insiders Place Their Bets

In other news, 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 cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director owned 2,200 shares of the company's stock, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value 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 $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. 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 research report on Friday, June 27th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and raised their price target for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Barclays raised their price target on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised their price target on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Three research 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 has a consensus rating of "Moderate Buy" and a consensus target price of $240.20.

Boeing Stock Performance

Shares of BA stock opened at $214.31 on Wednesday. The stock's fifty day moving average price is $223.95 and its two-hundred day moving average price is $206.92. The company has a market cap of $162.05 billion, a PE ratio of -12.98 and a beta of 1.47. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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 in the previous year, the company posted ($2.90) earnings per share. On average, equities analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

About Boeing

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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