GC Wealth Management RIA LLC Makes New Investment in The Boeing Company $BA

Key Points

• GC Wealth Management RIA LLC acquired a new stake in The Boeing Company, purchasing 2,931 shares valued at approximately $614,000 during the second quarter.
• Several large investors, including Vestcor Inc and National Pension Service, increased their holdings in Boeing, reflecting ongoing institutional interest with 64.82% of the company's stock now owned by institutional investors and hedge funds.
• Analysts maintain a generally positive outlook on Boeing, with a consensus rating of "Moderate Buy" and an average price target set at $231.00.

GC Wealth Management RIA LLC bought a new stake in The Boeing Company (NYSE:BA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,931 shares of the aircraft producer's stock, valued at approximately $614,000.

Other large investors also recently bought and sold shares of the company. Vestcor Inc grew its holdings in Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after purchasing an additional 1,195 shares during the last quarter. National Pension Service grew its holdings in Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock valued at $227,365,000 after purchasing an additional 218,049 shares during the last quarter. Wynn Capital LLC acquired a new stake in Boeing in the first quarter valued at $584,000. MFG Wealth Management Inc. acquired a new stake in Boeing in the first quarter valued at $2,125,000. Finally, Kelman Lazarov Inc. acquired a new stake in Boeing in the first quarter valued at $262,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. UBS Group set a $280.00 price objective on Boeing and gave the company a "buy" rating in a research note on Wednesday, July 30th. Bank of America increased their price objective on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. The Goldman Sachs Group set a $212.00 price objective on Boeing and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. increased their price objective on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and a consensus price target of $231.00.

Boeing Trading Down 0.6%

NYSE BA opened at $215.88 on Wednesday. The business's 50-day moving average price is $226.04 and its 200 day moving average price is $203.92. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The company has a market capitalization of $163.24 billion, a PE ratio of -13.08 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate 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. During the same quarter in the previous year, the business earned ($2.90) EPS. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. Equities analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

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

Boeing 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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