MADDEN SECURITIES Corp Grows Position in The Boeing Company $BA

Key Points

• MADDEN SECURITIES Corp increased its holdings in Boeing by 26.2% in Q2, now owning 14,290 shares valued at approximately $2.99 million.
• Despite reporting a loss of ($1.24) EPS for the latest quarter, Boeing's revenue rose by 34.9% year-over-year to $22.75 billion, exceeding analyst expectations.
• Numerous institutional investors, including Vanguard Group and Charles Schwab, have raised their stakes in Boeing, reflecting increased confidence in the company's future performance.

MADDEN SECURITIES Corp boosted its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 26.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,290 shares of the aircraft producer's stock after acquiring an additional 2,965 shares during the period. MADDEN SECURITIES Corp's holdings in Boeing were worth $2,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BA. Vanguard Group Inc. boosted its stake in shares of Boeing by 1.9% during 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Boeing by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock worth $715,979,000 after buying an additional 19,615 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Boeing by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer's stock worth $500,247,000 after buying an additional 91,707 shares during the period. Swiss National Bank boosted its position in Boeing by 2.5% during the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer's stock valued at $359,895,000 after acquiring an additional 51,700 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Boeing by 3.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer's stock valued at $335,770,000 after acquiring an additional 69,560 shares during the period. Institutional investors own 64.82% of the company's stock.

Boeing Trading Up 1.5%

Shares of NYSE:BA opened at $219.62 on Tuesday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The company has a market cap of $166.07 billion, a PE ratio of -13.30 and a beta of 1.47. The company's 50 day moving average is $224.72 and its 200 day moving average is $205.50.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS 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 analyst estimates of $20.13 billion. Boeing's revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.90) earnings per share. Equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares of the company's stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company's stock, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BA has been the subject of several recent research reports. 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 research report on Monday, September 8th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 target price on shares of Boeing in a research note on Monday, September 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Boeing in a research report on Saturday, September 27th. Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective on the stock in a research report on Friday, June 27th. Finally, Barclays boosted their price objective on shares of Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Three 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 stock. According to MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and an average price target of $233.91.

Boeing Company 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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