The Boeing Company $BA is Hedges Asset Management LLC's 3rd Largest Position

Key Points

• Hedges Asset Management LLC reduced its stake in Boeing by 20.4% during the second quarter, holding 25,870 shares valued at approximately $5.42 million.
• Several institutional investors increased their positions in Boeing, with significant growth reported by companies like Monetary Management Group Inc. (33.3% increase) and Wood Tarver Financial Group LLC (14.3% increase).
• Analysts have set a range of price targets for Boeing, with consensus showing a Moderate Buy rating and an average price target of $230.77 per share.

Hedges Asset Management LLC lessened its position in The Boeing Company (NYSE:BA - Free Report) by 20.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 25,870 shares of the aircraft producer's stock after selling 6,650 shares during the period. Boeing makes up 4.4% of Hedges Asset Management LLC's investment portfolio, making the stock its 3rd largest holding. Hedges Asset Management LLC's holdings in Boeing were worth $5,421,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Boeing by 1.9% in the 1st 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 period. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $715,979,000 after purchasing an additional 19,615 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 valued at $500,247,000 after purchasing an additional 91,707 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Boeing by 14.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer's stock valued at $502,933,000 after purchasing an additional 369,306 shares in the last quarter. Finally, Zimmer Partners LP purchased a new position in shares of Boeing in the 4th quarter valued at about $393,736,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BA shares. Susquehanna increased their price target on shares of Boeing from $265.00 to $270.00 and gave the company a "positive" rating in a report on Wednesday, July 30th. Vertical Research upgraded shares of Boeing from a "hold" rating to a "buy" rating and increased their price target for the company from $242.00 to $270.00 in a report on Monday, September 8th. Bank of America increased their price target on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Barclays increased their price target on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Morgan Stanley restated an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. Three research 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 issued a Sell rating to the company's stock. According to data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and an average target price of $230.77.

Insider Transactions at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company's stock, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Boeing Stock Performance

NYSE:BA traded down $3.87 during mid-day trading on Friday, hitting $216.12. 11,078,950 shares of the company's stock traded hands, compared to its average volume of 6,370,571. The company has a market cap of $163.42 billion, a PE ratio of -13.09 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. The firm's 50 day simple moving average is $228.76 and its 200 day simple moving average is $199.57.

Boeing (NYSE:BA - Get Free Report) last issued 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 firm had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. Boeing's quarterly revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the business posted ($2.90) EPS. On average, research analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.