Magnus Financial Group LLC Increases Holdings in The Boeing Company $BA

Key Points

• Magnus Financial Group LLC increased its stake in The Boeing Company by 15.4% during the second quarter, owning a total of 12,041 shares valued at approximately $2.5 million.
• Various hedge funds, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., have recently boosted their holdings in Boeing, indicating strong institutional interest with over 64.82% of the stock owned by institutional investors.
• Analysts have a consensus rating of "Moderate Buy" on Boeing, with price targets ranging from $212 to $275, reflecting optimism despite the company recently posting a loss of ($1.24) earnings per share.

Magnus Financial Group LLC increased its stake in The Boeing Company (NYSE:BA - Free Report) by 15.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,041 shares of the aircraft producer's stock after purchasing an additional 1,605 shares during the quarter. Magnus Financial Group LLC's holdings in Boeing were worth $2,523,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BA. Vanguard Group Inc. boosted its stake in 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 buying an additional 1,212,327 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Boeing by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock valued at $715,979,000 after buying an additional 19,615 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 valued at $500,247,000 after buying an additional 91,707 shares during the period. Swiss National Bank boosted its stake in Boeing by 2.5% during the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer's stock valued at $359,895,000 after buying an additional 51,700 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Boeing by 3.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer's stock valued at $335,770,000 after buying an additional 69,560 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boeing

In related news, Director Mortimer J. Buckley bought 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction dated 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. This trade represents 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.

Analysts Set New Price Targets

Several research firms recently issued reports on BA. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 price objective on shares of Boeing in a research note on Wednesday, July 30th. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a research note on Friday, June 27th. 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 research note 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 research note on Thursday, June 12th. Finally, Citigroup reaffirmed a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $230.77.

Boeing Trading Down 0.5%

NYSE BA opened at $215.36 on Thursday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The stock has a 50-day moving average of $227.04 and a 200-day moving average of $201.93. The firm has a market cap of $162.84 billion, a PE ratio of -13.04 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 for the quarter, missing analysts' consensus estimates 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 previous year, the business posted ($2.90) earnings per share. The company's revenue was up 34.9% compared to the same quarter last year. As a group, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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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