Graham Capital Management L.P. Buys 6,400 Shares of The Boeing Company $BA

Key Points

• Graham Capital Management L.P. increased its stake in Boeing by 8.3%, acquiring an additional 6,400 shares, bringing its total ownership to 83,706 shares valued at approximately $14.3 million.
• The majority of Boeing's stock, about 64.82%, is held by institutional investors, with several firms significantly increasing their positions in the last quarter.
• Boeing's stock is currently rated as a Moderate Buy by analysts, with a consensus target price of $228.90, despite recently reporting a larger than expected loss per share for the last quarter.

Graham Capital Management L.P. raised its position in shares of The Boeing Company (NYSE:BA - Free Report) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,706 shares of the aircraft producer's stock after purchasing an additional 6,400 shares during the period. Boeing accounts for about 0.2% of Graham Capital Management L.P.'s investment portfolio, making the stock its 28th largest position. Graham Capital Management L.P.'s holdings in Boeing were worth $14,276,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. American National Bank & Trust lifted its stake in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after buying an additional 128 shares during the last quarter. REAP Financial Group LLC grew its holdings in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after purchasing an additional 65 shares during the period. Dogwood Wealth Management LLC grew its holdings in Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 112 shares during the period. Heck Capital Advisors LLC acquired a new position in Boeing during the fourth quarter valued at approximately $33,000. Finally, Proathlete Wealth Management LLC acquired a new position in Boeing during the first quarter valued at approximately $34,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boeing

In other news, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Boeing Stock Up 1.1%

Shares of BA stock traded up $2.55 during mid-day trading on Tuesday, reaching $237.23. 6,331,206 shares of the stock traded hands, compared to its average volume of 5,634,349. The stock's fifty day simple moving average is $225.29 and its two-hundred day simple moving average is $196.53. The company has a market cap of $179.38 billion, a price-to-earnings ratio of -14.37 and a beta of 1.48. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business 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 posted ($2.90) earnings per share. The business's revenue for the quarter was up 34.9% on a year-over-year basis. On average, equities research analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BA has been the subject of a number of analyst reports. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and boosted their price objective for the company from $180.00 to $275.00 in a report on Friday, June 27th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Citigroup reaffirmed a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $250.00 price objective on shares of Boeing in a report on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $228.90.

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.