First County Bank CT Acquires Shares of 1,300 The Boeing Company $BA

Key Points

• First County Bank CT has acquired 1,300 shares of The Boeing Company, valued at approximately $272,000, marking its new position in the company.
• Multiple hedge funds have increased their stakes in Boeing, with Vanguard Group Inc. holding the largest position, owning over 65 million shares valued at more than $11.1 billion.
• Boeing recently reported earnings per share of ($1.24), missing analysts' estimates, but its quarterly revenue saw a substantial increase of 34.9% compared to the previous year.

First County Bank CT bought a new position in The Boeing Company (NYSE:BA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,300 shares of the aircraft producer's stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BA. Vanguard Group Inc. raised its holdings in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after purchasing an additional 1,212,327 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock worth $715,979,000 after purchasing an additional 19,615 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Boeing by 3.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer's stock worth $500,247,000 after purchasing an additional 91,707 shares during the period. Swiss National Bank lifted its holdings in shares of Boeing by 2.5% in the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer's stock valued at $359,895,000 after buying an additional 51,700 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Boeing by 3.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer's stock worth $335,770,000 after acquiring an additional 69,560 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BA shares. Jefferies Financial Group raised their target price on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Vertical Research upgraded shares of Boeing from a "hold" rating to a "buy" rating and raised their price objective for the company from $242.00 to $270.00 in a research note on Monday, September 8th. JPMorgan Chase & Co. upped their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Bank of America lifted their price target on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Barclays upped their price target on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $230.77.

Boeing Price Performance

Shares of BA opened at $217.23 on Tuesday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The stock has a market cap of $164.26 billion, a price-to-earnings ratio of -13.16 and a beta of 1.48. The firm has a 50 day simple moving average of $226.29 and a 200-day simple moving average of $203.84.

Boeing (NYSE:BA - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $20.13 billion. The business's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.90) earnings per share. On average, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction dated 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 owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

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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