Investment Research & Advisory Group Inc. Boosts Stock Position in The Boeing Company $BA

Key Points

• Investment Research & Advisory Group Inc. significantly increased its holdings in Boeing by 1,267.6% during the 2nd quarter, acquiring an additional 11,218 shares, bringing their total share ownership to 12,103 shares valued at approximately $2.5 million.
• Multiple analysts have raised price targets for Boeing, with Jefferies Financial Group setting a new target at $250.00 and most analysts rating the stock as a "Moderate Buy."
• Boeing reported a revenue of $22.75 billion in its last quarterly earnings, surpassing estimates despite a loss of ($1.24) earnings per share, indicating a 34.9% increase in revenue compared to the previous year.

Investment Research & Advisory Group Inc. grew its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 1,267.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,103 shares of the aircraft producer's stock after buying an additional 11,218 shares during the quarter. Investment Research & Advisory Group Inc.'s holdings in Boeing were worth $2,536,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BA. Revolve Wealth Partners LLC bought a new stake in shares of Boeing in the 4th quarter worth about $201,000. Versant Capital Management Inc grew its stake in Boeing by 70.0% in the first quarter. Versant Capital Management Inc now owns 1,379 shares of the aircraft producer's stock worth $235,000 after purchasing an additional 568 shares in the last quarter. GAMMA Investing LLC increased its holdings in Boeing by 19,333.1% in the first quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer's stock valued at $170,190,000 after buying an additional 992,753 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Boeing by 248.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 9,953 shares of the aircraft producer's stock valued at $1,697,000 after buying an additional 7,093 shares during the last quarter. Finally, Sterneck Capital Management LLC raised its stake in Boeing by 3.7% during the first quarter. Sterneck Capital Management LLC now owns 3,103 shares of the aircraft producer's stock valued at $529,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group lifted their target price on Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Citigroup reaffirmed a "buy" rating on shares of Boeing in a report on Monday, July 28th. Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a report on Monday, July 14th. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group set a $212.00 price objective on shares of Boeing and gave the company a "buy" rating in a research report on Thursday, June 12th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $230.77.

Boeing Stock Performance

Boeing stock opened at $221.28 on Monday. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The company has a 50-day simple moving average of $226.53 and a 200-day simple moving average of $203.45. The firm has a market capitalization of $167.32 billion, a P/E ratio of -13.40 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter in the previous year, the company posted ($2.90) EPS. The firm's revenue was up 34.9% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following the acquisition, the director directly owned 2,200 shares of the company's stock, valued at $497,420. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

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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