Lockerman Financial Group Inc. Buys New Shares in The Boeing Company $BA

Key Points

• Lockerman Financial Group Inc. purchased a new stake of 1,622 shares in The Boeing Company, valued at approximately $340,000, signaling ongoing interest from institutional investors in Boeing's stock.
• Boeing reported a loss of $1.24 EPS for the latest quarter, which was below analyst expectations, though revenue increased by 34.9% year-over-year to $22.75 billion, exceeding forecasted figures.
• Analysts have shown a positive outlook on Boeing, with many raising their ratings, including Redburn Atlantic, which upgraded the stock to a "strong-buy" status and increased its price target to $275.00.

Lockerman Financial Group Inc. bought a new stake in The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,622 shares of the aircraft producer's stock, valued at approximately $340,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BA. American National Bank & Trust boosted its holdings in Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after purchasing an additional 128 shares during the period. Piscataqua Savings Bank lifted its holdings in Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after buying an additional 137 shares during the last quarter. Proathlete Wealth Management LLC purchased a new stake in Boeing during the 1st quarter worth about $34,000. Monetary Management Group Inc. lifted its holdings in Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after buying an additional 50 shares during the last quarter. Finally, Columbia River Financial Group LLC purchased a new stake in Boeing during the 1st quarter worth about $50,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

BA opened at $217.23 on Tuesday. The stock has a market capitalization of $164.26 billion, a P/E ratio of -13.16 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's 50-day simple moving average is $226.29 and its 200-day simple moving average is $203.84.

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 (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.90) EPS. On average, equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity at Boeing

In other Boeing news, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the business'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 value of $867,103.74. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Susquehanna reaffirmed a "positive" rating and set a $270.00 price target on shares of Boeing in a report on Monday, September 15th. Vertical Research raised Boeing from a "hold" rating to a "buy" rating and lifted their price target for the stock from $242.00 to $270.00 in a report on Monday, September 8th. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Barclays lifted their target price on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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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