New Wave Wealth Advisors LLC Increases Stock Holdings in The Boeing Company $BA

Key Points

• New Wave Wealth Advisors LLC has significantly increased its holdings in The Boeing Company by 139.0%, acquiring an additional 3,499 shares in the second quarter, now totaling 6,016 shares valued at approximately $1.26 million.
• Insider trading activity includes Director Mortimer J. Buckley purchasing 2,200 shares at an average price of $226.10, while EVP David Christopher Raymond sold 3,771 shares, indicating varying sentiments among company executives.
• Analyst ratings for Boeing show a trend towards bullish sentiment, with several firms upgrading their ratings and target prices, leading to a consensus rating of "Moderate Buy" and an average target price of $231.00.

New Wave Wealth Advisors LLC boosted its position in The Boeing Company (NYSE:BA - Free Report) by 139.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,016 shares of the aircraft producer's stock after purchasing an additional 3,499 shares during the period. New Wave Wealth Advisors LLC's holdings in Boeing were worth $1,261,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vestcor Inc raised its stake in Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after purchasing an additional 1,195 shares during the period. National Pension Service raised its stake in Boeing by 19.6% during the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock valued at $227,365,000 after purchasing an additional 218,049 shares during the period. Wynn Capital LLC bought a new stake in Boeing during the 1st quarter valued at approximately $584,000. MFG Wealth Management Inc. bought a new stake in Boeing during the 1st quarter valued at approximately $2,125,000. Finally, Kelman Lazarov Inc. bought a new stake in Boeing during the 1st quarter valued at approximately $262,000. Institutional investors own 64.82% of the company's stock.

Insiders Place Their Bets

In related news, Director Mortimer J. Buckley bought 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased 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 approximately $497,420. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on 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 transaction, the executive vice president owned 35,873 shares of the company's stock, valued at approximately $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. Company insiders own 0.09% of the company's stock.

Boeing Stock Down 0.3%

BA opened at $215.24 on Thursday. The firm has a market cap of $162.75 billion, a P/E ratio of -13.04 and a beta of 1.47. The business has a fifty day simple moving average of $225.67 and a 200-day simple moving average of $204.00. The Boeing Company has a 52 week low of $128.88 and a 52 week 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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.90) EPS. Sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on BA shares. KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. lifted their target price on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Finally, Bank of America lifted their price objective on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $231.00.

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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