McElhenny Sheffield Capital Management LLC Makes New $62.86 Million Investment in The Boeing Company $BA

McElhenny Sheffield Capital Management LLC purchased a new position in shares of The Boeing Company (NYSE:BA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 300,000 shares of the aircraft producer's stock, valued at approximately $62,859,000. Boeing makes up about 4.1% of McElhenny Sheffield Capital Management LLC's holdings, making the stock its 6th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BA. Aspire Capital Advisors LLC grew its stake in Boeing by 0.8% in the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer's stock valued at $1,245,000 after buying an additional 45 shares during the last quarter. Lantz Financial LLC grew its stake in Boeing by 1.5% in the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer's stock valued at $644,000 after buying an additional 46 shares during the last quarter. Atlas Brown Inc. grew its stake in Boeing by 0.7% in the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock valued at $1,362,000 after buying an additional 48 shares during the last quarter. Moody National Bank Trust Division grew its stake in Boeing by 2.7% in the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer's stock valued at $385,000 after buying an additional 48 shares during the last quarter. Finally, Heck Capital Advisors LLC grew its position in shares of Boeing by 3.6% during the 2nd quarter. Heck Capital Advisors LLC now owns 1,398 shares of the aircraft producer's stock worth $293,000 after purchasing an additional 49 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the purchase, the director owned 2,200 shares of the company's stock, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The transaction 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 the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president directly 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 disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Boeing Price Performance

Shares of NYSE:BA opened at $225.26 on Thursday. The company has a market cap of $170.33 billion, a price-to-earnings ratio of -13.64 and a beta of 1.47. The firm has a 50 day simple moving average of $224.61 and a 200 day simple moving average of $205.75. The Boeing Company has a one year low of $128.88 and a one year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued 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 company had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. Boeing's revenue was up 34.9% compared to the same quarter last year. During the same period last year, the firm posted ($2.90) earnings per share. As a group, analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analyst Weigh In

BA has been the topic of a number of analyst reports. UBS Group set a $280.00 target price on shares of Boeing and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Sanford C. Bernstein increased their target price on shares of Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a research report on Thursday, October 2nd. Vertical Research upgraded shares of Boeing from a "hold" rating to a "buy" rating and increased their target price for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Finally, Bank of America increased their target price on shares of Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $233.91.

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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