The Boeing Company $BA Shares Purchased by Horizon Investments LLC

Key Points

• Horizon Investments LLC increased its position in Boeing by 33.3%, acquiring an additional 2,702 shares to reach a total of 10,814 shares valued at approximately $1.84 million.
• Other major investors, like Wood Tarver Financial Group and Signature Wealth Management Partners, also raised their stakes in Boeing, indicating strong institutional support for the company.
• Boeing's stock opened at $235.31 with a market cap of $177.93 billion and has shown significant revenue growth, reporting a 34.9% year-over-year increase despite missing earnings expectations.

Horizon Investments LLC boosted its position in shares of The Boeing Company (NYSE:BA - Free Report) by 33.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 10,814 shares of the aircraft producer's stock after acquiring an additional 2,702 shares during the quarter. Horizon Investments LLC's holdings in Boeing were worth $1,844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC acquired a new position in shares of Boeing in the 4th quarter valued at about $201,000. Bank Pictet & Cie Europe AG acquired a new position in shares of Boeing in the 4th quarter valued at about $7,837,000. Guggenheim Capital LLC lifted its holdings in shares of Boeing by 34.5% in the 4th quarter. Guggenheim Capital LLC now owns 22,477 shares of the aircraft producer's stock valued at $3,978,000 after buying an additional 5,760 shares during the period. Evergreen Capital Management LLC lifted its holdings in shares of Boeing by 10.2% in the 4th quarter. Evergreen Capital Management LLC now owns 6,657 shares of the aircraft producer's stock valued at $1,178,000 after buying an additional 615 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Boeing by 15.3% in the 4th quarter. NewEdge Advisors LLC now owns 64,519 shares of the aircraft producer's stock valued at $11,420,000 after buying an additional 8,542 shares during the period. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Trading Down 1.2%

NYSE:BA traded down $2.78 during trading hours on Monday, hitting $232.48. 8,448,443 shares of the stock were exchanged, compared to its average volume of 8,427,533. The firm's fifty day moving average price is $219.45 and its 200 day moving average price is $192.71. The company has a market cap of $175.79 billion, a P/E ratio of -14.08 and a beta of 1.48. 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 posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during 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 earned ($2.90) EPS. Equities analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Wall Street Zen lowered Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Barclays lifted their price target on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Finally, Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $228.90.

Insider Activity

In other news, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.

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.