First American Bank Has $11.36 Million Stake in The Boeing Company $BA

Key Points

• First American Bank increased its stake in Boeing by 6.2% during the second quarter, now owning 54,212 shares valued at approximately $11.36 million.
• Several hedge funds have significantly expanded their holdings in Boeing, with American National Bank & Trust boosting its shares by 474.1% in the first quarter alone.
• Wall Street analysts generally hold a positive outlook, with a consensus rating of "Moderate Buy" and price targets ranging from $230.00 to $280.00.

First American Bank raised its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,212 shares of the aircraft producer's stock after buying an additional 3,174 shares during the quarter. First American Bank's holdings in Boeing were worth $11,359,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. American National Bank & Trust raised its holdings in Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after purchasing an additional 128 shares during the period. Piscataqua Savings Bank increased its position in shares of Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after buying an additional 137 shares in the last quarter. Proathlete Wealth Management LLC acquired a new stake in Boeing during the 1st quarter worth $34,000. Monetary Management Group Inc. lifted its holdings in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after acquiring an additional 50 shares in the last quarter. Finally, Columbia River Financial Group LLC acquired a new position in Boeing in the first quarter valued at about $50,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boeing

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This represents 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BA shares. UBS Group set a $280.00 price target on Boeing and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Susquehanna restated a "positive" rating and set a $270.00 target price on shares of Boeing in a report on Monday, September 15th. Barclays upped their price target on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Citigroup restated a "buy" rating on shares of Boeing in a report on Monday, July 28th. Finally, Jefferies Financial Group boosted their price objective on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Boeing presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.77.

Boeing Trading Up 3.6%

Shares of BA stock opened at $221.28 on Friday. The firm's fifty day moving average price is $226.53 and its two-hundred day moving average price is $202.84. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm has a market capitalization of $167.32 billion, a P/E ratio of -13.40 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. Boeing's revenue was up 34.9% on a year-over-year basis. During the same period last year, the company posted ($2.90) EPS. As a group, equities research analysts forecast 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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