Kercheville Advisors LLC Makes New Investment in The Boeing Company $BA

Key Points

• Kercheville Advisors LLC acquired a new stake in Boeing, purchasing 11,249 shares valued at $2.36 million in the second quarter.
• Other institutional investors, including Vanguard Group Inc. and Canada Pension Plan Investment Board, have also increased their positions in Boeing during the same period.
• Boeing's stock opened at $216.32, and analysts have set a consensus price target of $233.91, with multiple upgrades from various firms suggesting a general positive outlook.

Kercheville Advisors LLC acquired a new stake in The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,249 shares of the aircraft producer's stock, valued at approximately $2,357,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BA. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Boeing in the second quarter valued at $378,459,000. Vanguard Group Inc. grew its position in shares of Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the period. Strs Ohio purchased a new stake in shares of Boeing in the first quarter valued at $98,984,000. Canada Pension Plan Investment Board grew its position in shares of Boeing by 243.8% in the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock valued at $128,689,000 after purchasing an additional 535,060 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Boeing by 38.4% in the first quarter. Deutsche Bank AG now owns 1,805,186 shares of the aircraft producer's stock valued at $307,874,000 after purchasing an additional 501,161 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insider Activity at Boeing

In other news, Director Mortimer J. Buckley acquired 2,200 shares of the business'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 purchase, 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 can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the 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 sale, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Boeing Stock Performance

Boeing stock opened at $216.32 on Friday. The stock's 50 day moving average price is $225.06 and its 200 day moving average price is $204.98. The firm has a market capitalization of $163.57 billion, a PE ratio of -13.10 and a beta of 1.47. The Boeing Company has a one year low of $128.88 and a one year high of $242.69.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays lifted their price objective on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a "buy" rating in a research note on Thursday, June 12th. Bank of America lifted their price objective on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Vertical Research upgraded Boeing from a "hold" rating to a "buy" rating and boosted their target price for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Finally, KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $233.91.

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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