Legacy Private Trust Co. Increases Stock Holdings in The Boeing Company $BA

Key Points

• Legacy Private Trust Co. increased its stock holdings in The Boeing Company by 15.0% during the 2nd quarter, bringing its total to 16,784 shares valued at approximately $3.5 million.
• Institutional investors own 64.82% of Boeing's stock, with significant investments from firms like Vanguard and Canada Pension Plan Investment Board, indicating strong institutional confidence in the company.
• Boeing reported a loss of $1.24 per share for the last quarter but exceeded revenue expectations at $22.75 billion, a 34.9% increase compared to the previous year.

Legacy Private Trust Co. increased its holdings in The Boeing Company (NYSE:BA - Free Report) by 15.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,784 shares of the aircraft producer's stock after buying an additional 2,190 shares during the period. Legacy Private Trust Co.'s holdings in Boeing were worth $3,517,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Zimmer Partners LP purchased a new stake in shares of Boeing in the fourth quarter valued at about $393,736,000. Vanguard Group Inc. raised its position in shares of Boeing by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after purchasing an additional 1,212,327 shares during the last quarter. GAMMA Investing LLC lifted its stake in Boeing by 19,333.1% in the 1st 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 in the last quarter. Strs Ohio purchased a new stake in Boeing in the 1st quarter valued at approximately $98,984,000. Finally, Canada Pension Plan Investment Board grew its holdings in Boeing by 243.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock valued at $128,689,000 after buying an additional 535,060 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of BA stock opened at $216.12 on Monday. The firm's 50-day simple moving average is $228.76 and its 200-day simple moving average is $199.57. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The firm has a market cap of $163.42 billion, a P/E ratio of -13.09 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. The business's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the firm posted ($2.90) EPS. Analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction 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 directly owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased 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 $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Vertical Research raised Boeing from a "hold" rating to a "buy" rating and boosted their price target for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Susquehanna raised their price target on shares of Boeing from $265.00 to $270.00 and gave the stock a "positive" rating in a research note on Wednesday, July 30th. Finally, Bank of America boosted their price objective on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $230.77.

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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