Financial Gravity Asset Management Inc. Invests $2.04 Million in The Boeing Company (NYSE:BA)

Financial Gravity Asset Management Inc. acquired a new stake in The Boeing Company (NYSE:BA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,939 shares of the aircraft producer's stock, valued at approximately $2,036,000.

Other hedge funds also recently made changes to their positions in the company. American National Bank & Trust boosted its stake in shares of Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after purchasing an additional 128 shares during the last quarter. REAP Financial Group LLC boosted its stake in shares of Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after purchasing an additional 65 shares during the last quarter. Dogwood Wealth Management LLC boosted its stake in Boeing by 167.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after acquiring an additional 112 shares during the last quarter. Solstein Capital LLC bought a new position in Boeing during the 4th quarter worth approximately $33,000. Finally, Heck Capital Advisors LLC bought a new position in Boeing during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BA. UBS Group lifted their price objective on shares of Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. TD Securities lowered shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Cowen reissued a "buy" rating on shares of Boeing in a research note on Wednesday, May 7th. Sanford C. Bernstein upgraded shares of Boeing from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $181.00 to $218.00 in a report on Monday, April 28th. Finally, The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the stock a "buy" rating in a report on Thursday, June 12th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $216.32.

Boeing Stock Up 0.3%

Shares of Boeing stock traded up $0.59 during trading on Friday, reaching $226.68. The company's stock had a trading volume of 6,527,919 shares, compared to its average volume of 9,537,229. The business's 50-day moving average price is $206.14 and its 200-day moving average price is $182.96. The firm has a market cap of $170.92 billion, a PE ratio of -12.65 and a beta of 1.41. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $230.20.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. The company's revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.13) EPS. Equities analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the transaction, the executive vice president owned 42,513 shares of the company's stock, valued at $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president directly owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock valued at $1,511,370 over the last quarter. 0.09% of the stock is owned by corporate insiders.

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.