Modern Wealth Management LLC Has $6.42 Million Stake in The Boeing Company $BA

Key Points

• Modern Wealth Management LLC increased its stake in The Boeing Company by 22.8%, raising its holdings to 37,638 shares worth approximately $6.42 million.
• Boeing reported a quarterly loss of ($1.24) earnings per share, missing analyst expectations, despite a significant revenue increase of 34.9% year-over-year to $22.75 billion.
• Analysts upgraded Boeing's stock ratings, with several firms setting price targets above $250, reflecting a positive sentiment towards the company's future performance.

Modern Wealth Management LLC raised its position in shares of The Boeing Company (NYSE:BA - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,638 shares of the aircraft producer's stock after purchasing an additional 7,000 shares during the period. Modern Wealth Management LLC's holdings in Boeing were worth $6,419,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. American National Bank & Trust increased its holdings in shares of Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after buying an additional 128 shares in the last quarter. REAP Financial Group LLC increased its holdings in Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after purchasing an additional 65 shares in the last quarter. Dogwood Wealth Management LLC increased its holdings in Boeing by 167.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after purchasing an additional 112 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Boeing in the 4th quarter worth about $33,000. Finally, Proathlete Wealth Management LLC acquired a new position in Boeing in the 1st quarter worth about $34,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Down 1.8%

BA traded down $3.87 during trading on Friday, reaching $216.12. 11,078,950 shares of the stock traded hands, compared to its average volume of 6,130,396. The stock has a market capitalization of $163.42 billion, a PE ratio of -13.09 and a beta of 1.48. The stock's 50-day moving average is $228.76 and its 200 day moving average is $199.39. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. The company's revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.90) earnings per share. As a group, equities research analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BA. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Wall Street Zen downgraded Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective for the company in a report on Friday, June 27th. Finally, TD Securities downgraded Boeing to a "cautious" rating in a report on Thursday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $230.77.

Insider Activity

In other news, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction dated 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 purchase, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the firm'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 owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

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.