Greykasell Wealth Strategies Inc. Buys Shares of 1,134 The Boeing Company (NYSE:BA)

Key Points

• Greykasell Wealth Strategies Inc. has acquired a new position in The Boeing Company, investing approximately $193,000 in 1,134 shares during the first quarter of the year.
• Boeing reported a net loss of ($1.24) EPS for the last quarter, missing expectations; however, its revenue increased by 34.9% year-over-year, totaling $22.75 billion.
• Several analysts have upgraded Boeing's stock rating, with Bank of America raising its target price from $260.00 to $270.00, while the company has a consensus rating of "Moderate Buy".

Greykasell Wealth Strategies Inc. bought a new stake in shares of The Boeing Company (NYSE:BA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,134 shares of the aircraft producer's stock, valued at approximately $193,000.

Several other hedge funds have also recently made changes to their positions in the business. American National Bank & Trust increased its position in shares of Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after acquiring an additional 128 shares during the period. REAP Financial Group LLC increased its position in shares of Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after acquiring an additional 65 shares during the period. Dogwood Wealth Management LLC increased its position in shares of Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after acquiring an additional 112 shares during the period. Heck Capital Advisors LLC bought a new position in shares of Boeing during the fourth quarter valued at approximately $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Boeing by 122.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 191 shares of the aircraft producer's stock valued at $34,000 after purchasing an additional 105 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president owned 13,258 shares of the company's stock, valued at $2,734,860.24. The trade was a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the transaction, the executive vice president directly owned 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price for the company in a research note on Friday, June 27th. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Susquehanna raised their target price on shares of Boeing from $265.00 to $270.00 and gave the company a "positive" rating in a research note on Wednesday, July 30th. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Finally, Bank of America raised their target price on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $228.90.

Boeing Trading Up 1.0%

NYSE:BA traded up $2.28 during mid-day trading on Thursday, hitting $227.32. The stock had a trading volume of 4,538,661 shares, compared to its average volume of 7,421,608. The stock has a market capitalization of $171.89 billion, a price-to-earnings ratio of -13.77 and a beta of 1.48. The company has a 50 day simple moving average of $216.95 and a 200-day simple moving average of $190.20. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) 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 the consensus estimate of $20.13 billion. During the same quarter last year, the business earned ($2.90) EPS. The company's quarterly revenue was up 34.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

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.