Matisse Capital Makes New Investment in The Boeing Company $BA

Key Points

• Matisse Capital has made a new investment in The Boeing Company by acquiring 4,227 shares valued at approximately $886,000 during the 2nd quarter.
• Analysts have a consensus target price of $233.91 for Boeing, with reports indicating a mix of Strong Buy, Buy, and Hold ratings from different firms.
• Boeing reported a loss per share of ($1.24) for the last quarter, missing expectations, but had a notable revenue increase of 34.9% year-over-year.

Matisse Capital acquired a new position in shares of The Boeing Company (NYSE:BA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,227 shares of the aircraft producer's stock, valued at approximately $886,000.

Several other large investors have also recently added to or reduced their stakes in BA. Piscataqua Savings Bank increased its position 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 period. Proathlete Wealth Management LLC bought a new position in Boeing during the 1st quarter worth $34,000. Monetary Management Group Inc. increased its position 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 period. Columbia River Financial Group LLC bought a new position in Boeing during the 1st quarter worth $50,000. Finally, Iron Horse Wealth Management LLC increased its position in Boeing by 33.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer's stock worth $51,000 after buying an additional 75 shares during the period. Institutional investors own 64.82% of the company's stock.

Wall Street Analysts Forecast Growth

BA has been the topic of several analyst reports. UBS Group set a $280.00 target price on Boeing and gave the stock a "buy" rating in a report on Wednesday, July 30th. Citigroup reissued a "buy" rating on shares of Boeing in a report on Monday, July 28th. Sanford C. Bernstein raised their price objective on Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Morgan Stanley reaffirmed an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Finally, Jefferies Financial Group set a $255.00 price objective on Boeing in a research note on Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $233.91.

Boeing Price Performance

Shares of BA opened at $221.82 on Wednesday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The company has a market capitalization of $167.73 billion, a price-to-earnings ratio of -13.44 and a beta of 1.47. The business has a 50-day moving average of $224.63 and a 200-day moving average of $205.61.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same period last year, the business earned ($2.90) EPS. Boeing's revenue was up 34.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In other Boeing news, Director Mortimer J. Buckley bought 2,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired 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 in the company, valued at $497,420. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing 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 completion of the sale, the executive vice president 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

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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