Glenview Trust co Buys 58,348 Shares of The Boeing Company $BA

Key Points

• Glenview Trust co increased its stake in The Boeing Company by 45.7%, holding 185,907 shares valued at approximately $31.71 million.
• Insider transactions include Director Mortimer J. Buckley purchasing 2,200 shares at approximately $226.10 each, while EVP David Christopher Raymond sold 3,771 shares for around $229.94 per share.
• Boeing's Q2 earnings report showed a revenue increase of 34.9% year-over-year but missed EPS estimates with a report of ($1.24).

Glenview Trust co grew its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 45.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,907 shares of the aircraft producer's stock after buying an additional 58,348 shares during the quarter. Glenview Trust co's holdings in Boeing were worth $31,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. American National Bank & Trust raised its position in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after buying an additional 128 shares in the last quarter. REAP Financial Group LLC raised its position in shares of Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after buying an additional 65 shares in the last quarter. Dogwood Wealth Management LLC raised its position in shares of Boeing by 167.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after buying an additional 112 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $33,000. Finally, Proathlete Wealth Management LLC purchased a new stake in shares of Boeing during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insider Transactions at Boeing

In other news, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were purchased 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 owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction dated 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 in the company, 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. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

BA has been the topic of several research reports. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. Wall Street Zen cut shares of Boeing from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. lifted 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. Three 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $230.77.

Boeing Stock Performance

NYSE:BA traded down $3.87 during trading hours on Friday, reaching $216.12. The company's stock had a trading volume of 11,078,950 shares, compared to its average volume of 6,130,396. The firm has a 50-day simple moving average of $228.76 and a 200-day simple moving average of $199.39. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm has a market capitalization of $163.42 billion, a price-to-earnings ratio of -13.09 and a beta of 1.48.

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 analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter last year, the firm earned ($2.90) EPS. The company's revenue for the quarter was up 34.9% on a year-over-year basis. Equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.