Fortis Capital Advisors LLC Buys Shares of 3,677 The Boeing Company $BA

Key Points

• Fortis Capital Advisors LLC acquired 3,677 shares of The Boeing Company, valued at approximately $770,000, during the second quarter.
• Insider trading activities include Director Mortimer J. Buckley purchasing 2,200 shares valued at about $497,420, while EVP David Christopher Raymond sold 3,771 shares valued at $867,103.74.
• The Boeing Company's stock rating has seen upgrades, with analysts setting target prices between $270.00 and $280.00, indicating a strong buy outlook amid a recent quarterly revenue increase of 34.9%.

Fortis Capital Advisors LLC bought a new stake in The Boeing Company (NYSE:BA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,677 shares of the aircraft producer's stock, valued at approximately $770,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Piscataqua Savings Bank increased its position in shares of Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after acquiring an additional 137 shares during the period. Proathlete Wealth Management LLC purchased a new stake in shares of Boeing during the first quarter worth $34,000. Monetary Management Group Inc. increased its position in shares of 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 during the period. Columbia River Financial Group LLC purchased a new stake in shares of Boeing during the first quarter worth $50,000. Finally, Iron Horse Wealth Management LLC increased its position in shares of Boeing by 33.8% during the first quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer's stock worth $51,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insider Buying and Selling at Boeing

In related news, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares of the company's stock, valued at approximately $497,420. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the company's 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 transaction, the executive vice president owned 35,873 shares of the company's stock, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Boeing Price Performance

NYSE BA opened at $216.32 on Friday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The company has a market capitalization of $163.57 billion, a PE ratio of -13.10 and a beta of 1.47. The company has a fifty day moving average of $225.06 and a two-hundred day moving average of $204.76.

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 business had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the previous year, the company earned ($2.90) EPS. Boeing's quarterly revenue was up 34.9% compared to the same quarter last year. On average, research analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

BA has been the topic of a number of recent research reports. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective on the stock in a research report on Friday, June 27th. UBS Group set a $280.00 target price on shares of Boeing and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Morgan Stanley reiterated an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Vertical Research upgraded shares of Boeing from a "hold" rating to a "buy" rating and boosted their target price for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Finally, Bank of America boosted their target price on shares of Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $233.91.

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.

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.