IMS Capital Management Makes New Investment in The Boeing Company $BA

Key Points

• IMS Capital Management has acquired a new stake in The Boeing Company, purchasing 6,990 shares valued at approximately $1,465,000 during the second quarter.
• Boeing's stock received multiple upgrades from analysts, with Citigroup maintaining a "buy" rating and Bank of America raising its price target from $260.00 to $270.00.
• The company reported a 34.9% year-over-year increase in revenue for the latest quarter, totaling $22.75 billion, although it missed earnings expectations with a loss of ($1.24) per share.

IMS Capital Management acquired a new stake in shares of The Boeing Company (NYSE:BA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,990 shares of the aircraft producer's stock, valued at approximately $1,465,000.

Other hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. grew its stake in Boeing by 19.0% during the second quarter. Financial Management Professionals Inc. now owns 790 shares of the aircraft producer's stock valued at $166,000 after acquiring an additional 126 shares in the last quarter. Norden Group LLC lifted its stake in Boeing by 0.8% in the 2nd quarter. Norden Group LLC now owns 6,875 shares of the aircraft producer's stock worth $1,441,000 after purchasing an additional 54 shares in the last quarter. DB Fitzpatrick & Co Inc boosted its holdings in shares of Boeing by 1.0% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 8,589 shares of the aircraft producer's stock valued at $1,800,000 after purchasing an additional 84 shares during the last quarter. Accurate Wealth Management LLC purchased a new position in shares of Boeing during the second quarter valued at about $405,000. Finally, Waycross Partners LLC increased its holdings in shares of Boeing by 3.4% in the second quarter. Waycross Partners LLC now owns 187,335 shares of the aircraft producer's stock worth $39,252,000 after purchasing an additional 6,215 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insider Activity

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup reissued a "buy" rating on shares of Boeing in a research note on Monday, July 28th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and boosted their price target for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Bank of America upped their price target 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. Finally, The Goldman Sachs Group set a $212.00 price objective on shares of Boeing and gave the stock a "buy" rating in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $230.77.

Boeing Stock Up 2.0%

Shares of BA opened at $216.30 on Wednesday. The business has a fifty day moving average of $227.33 and a 200 day moving average of $201.83. The company has a market cap of $163.56 billion, a PE ratio of -13.10 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 announced its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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 analyst estimates of $20.13 billion. The company's revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.90) earnings per share. As a group, research analysts anticipate 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.

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