Grassi Investment Management Purchases 4,300 Shares of The Boeing Company $BA

Key Points

• Grassi Investment Management increased its holdings in The Boeing Company by 10.6%, acquiring an additional 4,300 shares, raising total ownership to 45,007 shares valued at approximately $9.43 million.
• Several large investors, including Vanguard Group and Charles Schwab, made significant purchases or increases in their stakes, indicating growing institutional confidence in Boeing.
• Boeing reported a quarterly loss of ($1.24) EPS, missing estimates, but showed a revenue increase of 34.9% year-over-year, amounting to $22.75 billion.

Grassi Investment Management grew its holdings in The Boeing Company (NYSE:BA - Free Report) by 10.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,007 shares of the aircraft producer's stock after purchasing an additional 4,300 shares during the quarter. Grassi Investment Management's holdings in Boeing were worth $9,430,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after acquiring an additional 1,212,327 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Boeing by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock worth $715,979,000 after purchasing an additional 19,615 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Boeing by 3.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer's stock worth $500,247,000 after purchasing an additional 91,707 shares during the last quarter. Swiss National Bank grew its position in Boeing by 2.5% in the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer's stock worth $359,895,000 after purchasing an additional 51,700 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Boeing by 3.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer's stock worth $335,770,000 after purchasing an additional 69,560 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Insider Transactions at Boeing

In other Boeing news, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following the acquisition, the director directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the business'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 completion of 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 position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Boeing Price Performance

Shares of BA stock opened at $216.32 on Friday. The stock's fifty day simple moving average is $225.06 and its 200 day simple moving average is $204.76. The firm has a market cap of $163.57 billion, a price-to-earnings ratio of -13.10 and a beta of 1.47. The Boeing Company has a one year low of $128.88 and a one year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter in the previous year, the company earned ($2.90) EPS. The business's quarterly revenue was up 34.9% compared to the same quarter last year. On average, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BA. Weiss Ratings restated a "sell (d-)" rating on shares of Boeing in a research note on Saturday, September 27th. Sanford C. Bernstein lifted their price objective on Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a report on Thursday. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. Bank of America lifted their price objective on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, 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 note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and an average price target of $233.91.

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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