Foster Group Inc. Raises Stock Position in The Boeing Company $BA

Key Points

• Foster Group Inc. increased its stake in Boeing by 49.2% during the second quarter, holding 4,991 shares valued at approximately $1,046,000.
• Boeing reported a quarterly revenue of $22.75 billion, significantly exceeding analyst expectations, though it recorded an EPS of (1.24), missing consensus estimates.
• Analysts have varied ratings on Boeing stock, with three analysts giving a Strong Buy rating and a consensus price target of $230.77.

Foster Group Inc. lifted its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 49.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,991 shares of the aircraft producer's stock after purchasing an additional 1,645 shares during the quarter. Foster Group Inc.'s holdings in Boeing were worth $1,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Revolve Wealth Partners LLC acquired a new stake in shares of Boeing during the fourth quarter valued at approximately $201,000. Bank Pictet & Cie Europe AG acquired a new stake in shares of Boeing during the 4th quarter valued at about $7,837,000. Vise Technologies Inc. raised its position in Boeing by 97.5% in the 4th quarter. Vise Technologies Inc. now owns 5,237 shares of the aircraft producer's stock valued at $927,000 after purchasing an additional 2,585 shares during the last quarter. GTS Securities LLC raised its stake in shares of Boeing by 101.1% during the fourth quarter. GTS Securities LLC now owns 3,367 shares of the aircraft producer's stock worth $596,000 after buying an additional 319,060 shares during the last quarter. Finally, Forum Financial Management LP increased its position in shares of Boeing by 6.3% in the 4th quarter. Forum Financial Management LP now owns 6,300 shares of the aircraft producer's stock valued at $1,115,000 after buying an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Wall Street Analyst Weigh In

BA has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Royal Bank Of Canada restated an "outperform" rating and set a $250.00 price target on shares of Boeing in a research report on Wednesday, July 30th. Bank of America raised their target price on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price on the stock in a research note on Friday, June 27th. 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 report on Wednesday, June 4th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and a consensus target price of $230.77.

Boeing Stock Down 1.6%

Shares of BA traded down $3.39 during midday trading on Monday, hitting $212.26. The company had a trading volume of 7,340,549 shares, compared to its average volume of 6,313,642. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The company's 50 day moving average price is $227.61 and its 200 day moving average price is $201.73. The stock has a market cap of $160.50 billion, a price-to-earnings ratio of -12.86 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter last year, the company earned ($2.90) EPS. Boeing's revenue for the quarter was up 34.9% compared to the same quarter last year. Equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company's stock, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

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.