Jackson Square Capital LLC Invests $4.40 Million in The Boeing Company $BA

Key Points

• Jackson Square Capital LLC has acquired a new position in The Boeing Company, purchasing nearly 21,000 shares valued at approximately $4.4 million during the second quarter.
• The Boeing Company reported earnings of ($1.24) per share for the latest quarter, missing analysts' expectations, but showed a revenue increase of 34.9% year-over-year, reaching $22.75 billion.
• Brokerage firms have projected a positive outlook for Boeing, with JPMorgan increasing its price target from $230 to $251 and giving the stock an "overweight" rating.

Jackson Square Capital LLC purchased a new stake in The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,998 shares of the aircraft producer's stock, valued at approximately $4,400,000.

A number of other large investors also recently modified their holdings of the company. Sivia Capital Partners LLC lifted its stake in shares of Boeing by 16.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer's stock valued at $320,000 after acquiring an additional 217 shares during the last quarter. Intelligence Driven Advisers LLC bought a new position in shares of Boeing in the 2nd quarter valued at $2,028,000. Radnor Capital Management LLC raised its position in Boeing by 57.5% during the 2nd quarter. Radnor Capital Management LLC now owns 8,144 shares of the aircraft producer's stock worth $1,706,000 after purchasing an additional 2,973 shares during the last quarter. Pines Wealth Management LLC raised its position in Boeing by 4.3% during the 2nd quarter. Pines Wealth Management LLC now owns 1,520 shares of the aircraft producer's stock worth $328,000 after purchasing an additional 63 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its position in Boeing by 40.4% during the 2nd quarter. Pallas Capital Advisors LLC now owns 3,449 shares of the aircraft producer's stock worth $723,000 after purchasing an additional 993 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

BA traded up $0.01 during trading on Friday, reaching $215.67. The stock had a trading volume of 10,493,801 shares, compared to its average volume of 6,221,877. The stock has a market cap of $163.08 billion, a PE ratio of -13.06 and a beta of 1.48. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The business has a 50-day moving average of $227.97 and a 200-day moving average of $201.03.

Boeing (NYSE:BA - Get Free Report) last released its 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 company had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The firm's revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.90) earnings per share. Equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on BA. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $250.00 target price on shares of Boeing in a research report on Wednesday, July 30th. Susquehanna reiterated a "positive" rating and set a $270.00 price target on shares of Boeing in a report on Monday, September 15th. Morgan Stanley restated an "equal weight" 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 note on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Boeing has a consensus rating of "Moderate Buy" and an average price target of $230.77.

Insider Activity

In other Boeing news, 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 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 filing with the SEC, which is available at this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares of the company's stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

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.