LeConte Wealth Management LLC Invests $261,000 in The Boeing Company $BA

Key Points

• LeConte Wealth Management LLC invested approximately $261,000 in Boeing by acquiring 1,248 shares in the second quarter, highlighting growing institutional interest in the stock.
• Several analysts have upgraded Boeing's stock rating, with three analysts giving a Strong Buy rating and raising the target price significantly, reflecting positive market sentiment.
• Boeing reported quarterly earnings showing a 34.9% revenue increase year-over-year, although the earnings per share missed estimates, indicating mixed financial performance.

LeConte Wealth Management LLC bought a new position in shares of The Boeing Company (NYSE:BA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,248 shares of the aircraft producer's stock, valued at approximately $261,000.

Several other institutional investors also recently modified their holdings of the stock. Level Financial Advisors acquired a new position in shares of Boeing during the 2nd quarter worth about $227,000. Perennial Advisors LLC acquired a new position in shares of Boeing during the 2nd quarter worth about $224,000. Pitti Group Wealth Management LLC grew its position in shares of Boeing by 1.7% during the 2nd quarter. Pitti Group Wealth Management LLC now owns 12,122 shares of the aircraft producer's stock worth $2,540,000 after buying an additional 206 shares during the period. Spectrum Planning & Advisory Services Inc. acquired a new position in shares of Boeing during the 2nd quarter worth about $344,000. Finally, Aspire Capital Advisors LLC grew its position in shares of Boeing by 0.8% during the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer's stock worth $1,245,000 after buying an additional 45 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Finally, Susquehanna reissued a "positive" rating and set a $270.00 target price on shares of Boeing in a research note on Monday, September 15th. Three investment 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 given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $230.77.

Boeing Stock Down 0.5%

Shares of BA opened at $215.36 on Thursday. The stock has a market capitalization of $162.84 billion, a P/E ratio of -13.04 and a beta of 1.48. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The company has a 50 day moving average of $227.04 and a 200-day moving average of $201.93.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly 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 the consensus estimate of $20.13 billion. The firm's quarterly revenue was up 34.9% on a year-over-year basis. During the same period in the prior year, the company earned ($2.90) earnings per share. On average, sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director directly owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the 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 directly 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.

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.

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