Merit Financial Group LLC Buys 13,372 Shares of The Boeing Company $BA

Key Points

• Merit Financial Group LLC increased its ownership in Boeing by 72.2%, acquiring an additional 13,372 shares during the 2nd quarter, bringing its total to 31,883 shares worth approximately $6.68 million.
• Boeing reported a loss of $1.24 earnings per share for the last quarter, missing consensus estimates, despite a revenue increase of 34.9% year-over-year.
• Institutional investors currently own 64.82% of Boeing's stock, and recent analyst reports indicate a prevailing positive sentiment, with multiple firms issuing buy ratings and higher target prices for the stock.

Merit Financial Group LLC lifted its stake in The Boeing Company (NYSE:BA - Free Report) by 72.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,883 shares of the aircraft producer's stock after purchasing an additional 13,372 shares during the period. Merit Financial Group LLC's holdings in Boeing were worth $6,680,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BA. Piscataqua Savings Bank boosted its position in shares of Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after purchasing an additional 137 shares during the last quarter. Proathlete Wealth Management LLC bought a new position in shares of Boeing in the 1st quarter worth $34,000. Monetary Management Group Inc. boosted its position in shares of Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after purchasing an additional 50 shares during the last quarter. Columbia River Financial Group LLC bought a new position in Boeing during the first quarter worth about $50,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in Boeing by 33.8% during the first quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer's stock worth $51,000 after acquiring an additional 75 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Price Performance

BA opened at $216.32 on Monday. The business's 50-day moving average price is $225.06 and its two-hundred day moving average price is $205.21. 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 $163.57 billion, a price-to-earnings ratio of -13.10 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last released 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 business had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter last year, the company earned ($2.90) earnings per share. Boeing's revenue for the quarter was up 34.9% on a year-over-year basis. Sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on BA shares. Citigroup reiterated a "buy" rating on shares of Boeing in a report on Monday, July 28th. Vertical Research upgraded Boeing from a "hold" rating to a "buy" rating and lifted their target price for the stock from $242.00 to $270.00 in a report on Monday, September 8th. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the stock a "buy" rating in a report on Thursday, June 12th. Sanford C. Bernstein lifted their target price on Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, UBS Group set a $280.00 target price on Boeing and gave the stock a "buy" rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $233.91.

Insider Transactions at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost 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 $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Boeing 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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