Farther Finance Advisors LLC Increases Position in The Boeing Company $BA

Key Points

• Farther Finance Advisors LLC increased its stake in The Boeing Company by 15.8%, acquiring an additional 1,708 shares in the second quarter, bringing its total holdings to 12,511 shares valued at approximately $2.62 million.
• A range of institutional investors and hedge funds took action during the second quarter, with notable increases in stake from companies like Busey Bank (3.3% increase) and CX Institutional (21.4% increase).
• Boeing's stock received a boost in ratings from several brokerages, with Redburn Atlantic upgrading it to a "strong-buy" and raising the price target from $180 to $275.

Farther Finance Advisors LLC grew its holdings in The Boeing Company (NYSE:BA - Free Report) by 15.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 12,511 shares of the aircraft producer's stock after buying an additional 1,708 shares during the period. Farther Finance Advisors LLC's holdings in Boeing were worth $2,621,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Busey Bank increased its stake in shares of Boeing by 3.3% during the second quarter. Busey Bank now owns 6,732 shares of the aircraft producer's stock worth $1,411,000 after acquiring an additional 214 shares during the period. CX Institutional increased its stake in shares of Boeing by 21.4% during the second quarter. CX Institutional now owns 5,798 shares of the aircraft producer's stock worth $1,215,000 after acquiring an additional 1,021 shares during the period. AFG Fiduciary Services Limited Partnership acquired a new position in shares of Boeing during the second quarter worth about $214,000. Marshall & Sullivan Inc. WA acquired a new position in shares of Boeing during the second quarter worth about $109,000. Finally, Wright Investors Service Inc. acquired a new position in shares of Boeing during the second quarter worth about $1,831,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BA. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and boosted their price target for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. 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 note on Tuesday, July 29th. Citigroup restated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Finally, Jefferies Financial Group upped their target price on shares of Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Boeing has a consensus rating of "Moderate Buy" and a consensus price target of $230.77.

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 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. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the 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 completion of the sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at $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 corporate insiders.

Boeing Stock Up 0.0%

Boeing stock opened at $215.67 on Monday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The firm has a fifty day moving average of $227.97 and a 200-day moving average of $201.33. The firm has a market capitalization of $163.08 billion, a P/E ratio of -13.06 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the prior year, the firm earned ($2.90) earnings per share. The firm's quarterly revenue was up 34.9% on a year-over-year basis. On average, research analysts expect 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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