Geneos Wealth Management Inc. Boosts Stock Position in The Boeing Company $BA

Key Points

• Geneos Wealth Management Inc. increased its stake in Boeing by 65.9%, acquiring an additional 3,739 shares, bringing its total holdings to 9,411 shares valued at approximately $1.6 million.
• Various other institutional investors, including IFM Investors Pty Ltd and Acorns Advisers LLC, also raised their stakes in Boeing, indicating strong interest among hedge funds and institutions.
• Boeing reported a quarterly earnings miss with a loss of ($1.24) earnings per share, although its revenue increased by 34.9% year-over-year, reaching $22.75 billion.

Geneos Wealth Management Inc. raised its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 65.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,411 shares of the aircraft producer's stock after acquiring an additional 3,739 shares during the period. Geneos Wealth Management Inc.'s holdings in Boeing were worth $1,605,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd raised its stake in Boeing by 3.6% during the 1st quarter. IFM Investors Pty Ltd now owns 28,198 shares of the aircraft producer's stock valued at $4,809,000 after acquiring an additional 967 shares during the last quarter. Acorns Advisers LLC raised its stake in Boeing by 18.7% during the 1st quarter. Acorns Advisers LLC now owns 2,093 shares of the aircraft producer's stock valued at $357,000 after acquiring an additional 329 shares during the last quarter. Intech Investment Management LLC raised its stake in Boeing by 15.6% during the 1st quarter. Intech Investment Management LLC now owns 37,497 shares of the aircraft producer's stock valued at $6,395,000 after acquiring an additional 5,071 shares during the last quarter. Integrity Alliance LLC. purchased a new position in shares of Boeing during the 1st quarter worth approximately $1,278,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Boeing during the 1st quarter worth approximately $580,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boeing

In related news, Director Mortimer J. Buckley purchased 2,200 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was bought at an average price 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 approximately $497,420. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares of the company's stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Boeing Price Performance

NYSE BA opened at $220.27 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 $166.56 billion, a P/E ratio of -13.34 and a beta of 1.48. The business has a 50 day moving average price of $228.76 and a 200 day moving average price of $198.95.

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 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. Boeing's quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.90) earnings per share. On average, research analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the subject of a number of analyst reports. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Vertical Research raised Boeing from a "hold" rating to a "buy" rating and increased their target price for the stock from $242.00 to $270.00 in a research note on Monday. JPMorgan Chase & Co. increased their target price on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. TD Securities downgraded Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Finally, Susquehanna increased their target price on Boeing from $265.00 to $270.00 and gave the stock a "positive" rating in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $230.77.

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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