Goldstone Financial Group LLC Boosts Stock Holdings in The Boeing Company $BA

Key Points

• Goldstone Financial Group LLC boosted its stock holdings in The Boeing Company by 137.3%, owning 3,868 shares valued at approximately $835,000.
• Several hedge funds have recently altered their positions in Boeing, with Canada Pension Plan Investment Board increasing its stake by 243.8%, now owning shares valued at about $128.7 million.
• Boeing's recent earnings report showed a loss of ($1.24) EPS, missing analyst expectations, though revenue increased by 34.9% year-over-year to $22.75 billion.

Goldstone Financial Group LLC raised its stake in The Boeing Company (NYSE:BA - Free Report) by 137.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,868 shares of the aircraft producer's stock after buying an additional 2,238 shares during the period. Goldstone Financial Group LLC's holdings in Boeing were worth $835,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BA. Zimmer Partners LP purchased a new position in Boeing in the fourth quarter valued at about $393,736,000. Vanguard Group Inc. increased its holdings in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after buying an additional 1,212,327 shares in the last quarter. GAMMA Investing LLC increased its holdings in Boeing by 19,333.1% in the first quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer's stock valued at $170,190,000 after buying an additional 992,753 shares in the last quarter. Strs Ohio purchased a new position in Boeing in the first quarter valued at about $98,984,000. Finally, Canada Pension Plan Investment Board increased its holdings in Boeing by 243.8% in the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock valued at $128,689,000 after buying an additional 535,060 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

Shares of NYSE BA opened at $216.12 on Monday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm's 50 day moving average price is $228.76 and its 200 day moving average price is $199.57. The firm has a market cap of $163.42 billion, a P/E ratio of -13.09 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results 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 company had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter in the prior year, the business posted ($2.90) EPS. The business's revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Analyst Ratings Changes

BA has been the subject of a number of research analyst reports. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Barclays increased their price target on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target on the stock in a research report on Friday, June 27th. UBS Group set a $280.00 price target on shares of Boeing and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and increased their price target for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Three investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $230.77.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 35,873 shares of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, 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. Company 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.

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