Kingstone Capital Partners Texas LLC Invests $378.46 Million in The Boeing Company $BA

Key Points

• Kingstone Capital Partners Texas LLC has made a significant investment in The Boeing Company, acquiring 1,806,226 shares valued at approximately $378.46 million, representing 0.24% of the company's total shares.
• An array of hedge funds have recently modified their holdings in Boeing, with institutional investors now owning 64.82% of the stock, indicating strong institutional interest.
• Wall Street analysts maintain a generally favorable outlook on Boeing, with ratings ranging from "Strong Buy" to "Sell," and an average target price of $230.77.

Kingstone Capital Partners Texas LLC acquired a new stake in shares of The Boeing Company (NYSE:BA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,806,226 shares of the aircraft producer's stock, valued at approximately $378,459,000. Kingstone Capital Partners Texas LLC owned about 0.24% of Boeing as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Vestcor Inc lifted its stake in Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after buying an additional 1,195 shares during the period. National Pension Service raised its stake in Boeing by 19.6% in the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock valued at $227,365,000 after acquiring an additional 218,049 shares during the period. Wynn Capital LLC acquired a new stake in Boeing during the 1st quarter worth approximately $584,000. MFG Wealth Management Inc. acquired a new position in Boeing in the 1st quarter valued at $2,125,000. Finally, Kelman Lazarov Inc. acquired a new position in shares of Boeing during the 1st quarter worth $262,000. 64.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of the firm'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 transaction of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the acquisition, the director directly owned 2,200 shares of the company's stock, valued at approximately $497,420. This 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 Stock Performance

Shares of NYSE BA traded down $3.39 during midday trading on Monday, reaching $212.26. 7,321,338 shares of the company traded hands, compared to its average volume of 8,208,254. The stock's 50-day simple moving average is $227.97 and its 200-day simple moving average is $201.33. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The firm has a market cap of $160.50 billion, a PE ratio of -12.86 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results 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 firm had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the prior year, the firm earned ($2.90) EPS. The company's revenue for the quarter was up 34.9% on a year-over-year basis. On average, equities research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BA shares. Barclays boosted their price objective on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $250.00 price target on shares of Boeing in a report on Wednesday, July 30th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Finally, Jefferies Financial Group upped their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.77.

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.