HB Wealth Management LLC Purchases 4,084 Shares of The Boeing Company (NYSE:BA)

Key Points

• HB Wealth Management LLC increased its holdings in The Boeing Company by 30.2%, acquiring an additional 4,084 shares, bringing their total ownership to 17,591 shares valued at approximately $3 million.
• Notable investments from other hedge funds include Spectrum Financial Alliance Ltd, which grew its position by 6.0%, now owning 288,451 shares valued at about $49 million, and Phoenix Financial Ltd., which saw an increase of 430.9% in its holdings.
• Boeing's stock traded at $233.02, with a 52-week range between $128.88 and $235.27, revealing significant potential for growth and investor interest.

HB Wealth Management LLC boosted its stake in The Boeing Company (NYSE:BA - Free Report) by 30.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,591 shares of the aircraft producer's stock after purchasing an additional 4,084 shares during the quarter. HB Wealth Management LLC's holdings in Boeing were worth $3,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Revolve Wealth Partners LLC purchased a new position in shares of Boeing during the fourth quarter worth approximately $201,000. Bank Pictet & Cie Europe AG purchased a new position in shares of Boeing during the fourth quarter worth approximately $7,837,000. Pictet Asset Management Holding SA raised its stake in shares of Boeing by 21.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 272,262 shares of the aircraft producer's stock worth $48,190,000 after acquiring an additional 47,930 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Boeing by 4.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 41,332 shares of the aircraft producer's stock worth $7,316,000 after acquiring an additional 1,716 shares in the last quarter. Finally, RiverFront Investment Group LLC raised its stake in shares of Boeing by 3.2% during the fourth quarter. RiverFront Investment Group LLC now owns 2,709 shares of the aircraft producer's stock worth $479,000 after acquiring an additional 84 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the transaction, the executive vice president directly owned 20,513 shares of the company's stock, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock valued at $1,511,370 in the last quarter. 0.09% of the stock is owned by insiders.

Boeing Trading Down 1.4%

Boeing stock traded down $3.13 on Thursday, hitting $222.71. 3,814,399 shares of the stock traded hands, compared to its average volume of 8,599,019. The firm has a market cap of $167.93 billion, a P/E ratio of -13.49 and a beta of 1.41. The business's fifty day simple moving average is $214.47 and its 200 day simple moving average is $187.94. 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 posted 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 firm had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. Boeing's revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.90) earnings per share. As a group, analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BA shares. Royal Bank Of Canada restated an "outperform" rating and issued a $250.00 target price on shares of Boeing in a report on Wednesday. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the stock a "buy" rating in a report on Thursday, June 12th. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and raised their target price for the stock from $180.00 to $275.00 in a report on Friday, June 27th. TD Securities cut shares of Boeing to a "cautious" rating in a report on Thursday, May 22nd. Finally, Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price on the stock in a report on Friday, June 27th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.73.

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.