Hoey Investments Inc. Grows Position in The Boeing Company $BA

Key Points

• Hoey Investments Inc. increased its stake in Boeing by 49.8% in the second quarter, owning 4,963 shares worth approximately $1,040,000.
• Multiple institutional investors have also significantly raised their positions in Boeing, with American National Bank & Trust increasing its holdings by 474.1% in the first quarter.
• Equities analysts currently have a consensus rating of "Moderate Buy" for Boeing, with a consensus price target set at $230.77.

Hoey Investments Inc. grew its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 49.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,963 shares of the aircraft producer's stock after acquiring an additional 1,651 shares during the quarter. Boeing comprises 0.2% of Hoey Investments Inc.'s investment portfolio, making the stock its 28th largest position. Hoey Investments Inc.'s holdings in Boeing were worth $1,040,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. American National Bank & Trust increased its holdings in shares of Boeing by 474.1% in the 1st 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. Piscataqua Savings Bank lifted its holdings in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after acquiring an additional 137 shares during the last quarter. REAP Financial Group LLC grew its position in Boeing by 60.2% in 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 in the last quarter. Dogwood Wealth Management LLC increased its stake in Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after acquiring an additional 112 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in Boeing during the fourth quarter valued at about $33,000. 64.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BA shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 price objective on shares of Boeing in a report on Wednesday, July 30th. Susquehanna restated a "positive" rating and issued a $270.00 target price on shares of Boeing in a research report on Monday, September 15th. KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Rothschild & Co Redburn raised 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. Finally, Citigroup restated a "buy" rating on shares of Boeing in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $230.77.

Insiders Place Their Bets

In other news, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the company's 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 transaction, the executive vice president directly 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 ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Boeing Price Performance

Shares of Boeing stock opened at $212.26 on Tuesday. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The business's 50 day simple moving average is $227.61 and its two-hundred day simple moving average is $201.73. The stock has a market capitalization of $160.50 billion, a P/E ratio of -12.86 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last issued its 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 for the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter last year, the company earned ($2.90) EPS. The business's revenue was up 34.9% on a year-over-year basis. Sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal 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.

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