MFG Wealth Management Inc. Purchases 2,517 Shares of The Boeing Company $BA

Key Points

• MFG Wealth Management Inc. increased its stake in The Boeing Company by 20.2%, purchasing an additional 2,517 shares during the second quarter, now holding a total of 14,978 shares valued at approximately $3,138,000.
• Institutional investors currently own 64.82% of Boeing's stock, reflecting strong interest and support from the investment community.
• Analysts' ratings for Boeing show a generally positive outlook, with three analysts rating the stock as a Strong Buy and an average target price of $230.77.

MFG Wealth Management Inc. boosted its position in shares of The Boeing Company (NYSE:BA - Free Report) by 20.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,978 shares of the aircraft producer's stock after buying an additional 2,517 shares during the quarter. Boeing makes up about 2.6% of MFG Wealth Management Inc.'s holdings, making the stock its 11th biggest holding. MFG Wealth Management Inc.'s holdings in Boeing were worth $3,138,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bay Rivers Group raised its holdings in Boeing by 3.3% during the 2nd quarter. Bay Rivers Group now owns 7,400 shares of the aircraft producer's stock valued at $1,551,000 after buying an additional 235 shares during the last quarter. Westmount Partners LLC increased its position in Boeing by 5.2% during the 2nd quarter. Westmount Partners LLC now owns 3,408 shares of the aircraft producer's stock valued at $714,000 after purchasing an additional 169 shares during the period. Czech National Bank increased its position in Boeing by 6.9% during the 2nd quarter. Czech National Bank now owns 184,270 shares of the aircraft producer's stock valued at $38,610,000 after purchasing an additional 11,941 shares during the period. Sandy Cove Advisors LLC purchased a new position in Boeing during the 2nd quarter valued at $213,000. Finally, ACT Wealth Management LLC purchased a new position in Boeing during the 2nd quarter valued at $226,000. 64.82% of the stock is currently owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

A number of brokerages have issued reports on BA. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 price objective on shares of Boeing in a research report on Wednesday, July 30th. 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, Vertical Research raised shares of Boeing from a "hold" rating to a "buy" rating and upped their target price for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $230.77.

Boeing Price Performance

NYSE:BA opened at $215.73 on Tuesday. The firm's 50-day moving average price is $228.71 and its 200-day moving average price is $199.86. The company has a market capitalization of $163.13 billion, a PE ratio of -13.07 and a beta of 1.48. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69.

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 for the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter in the previous 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. Equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

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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