Next Level Private LLC Increases Stock Position in The Boeing Company $BA

Key Points

• Next Level Private LLC increased its stake in The Boeing Company by 3.8%, holding 34,873 shares valued at approximately $7.31 million, making it the firm's 11th largest position.
• Several institutional investors, including Vanguard Group and Canada Pension Plan Investment Board, have significantly increased their stakes in Boeing, indicating strong investor confidence in the company.
• Boeing reported a revenue of $22.75 billion in its latest quarterly earnings, exceeding analyst expectations, but missed EPS estimates by a larger margin, showing mixed performance in its financial results.

Next Level Private LLC lifted its holdings in The Boeing Company (NYSE:BA - Free Report) by 3.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 34,873 shares of the aircraft producer's stock after purchasing an additional 1,273 shares during the period. Boeing comprises 2.4% of Next Level Private LLC's holdings, making the stock its 11th biggest position. Next Level Private LLC's holdings in Boeing were worth $7,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BA. Zimmer Partners LP purchased a new stake in Boeing during the fourth quarter valued at approximately $393,736,000. Vanguard Group Inc. lifted its position in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares during the last quarter. GAMMA Investing LLC lifted its position in Boeing by 19,333.1% during the first quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer's stock valued at $170,190,000 after acquiring an additional 992,753 shares during the last quarter. Strs Ohio purchased a new stake in Boeing during the first quarter valued at approximately $98,984,000. Finally, Canada Pension Plan Investment Board lifted its position in Boeing by 243.8% during the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock valued at $128,689,000 after acquiring an additional 535,060 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on BA shares. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a report on Monday, July 14th. JPMorgan Chase & Co. raised their price target on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Finally, UBS Group set a $280.00 price target on shares of Boeing and gave the stock a "buy" rating in a report on Wednesday, July 30th. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Boeing presently has a consensus rating of "Moderate Buy" and an average price target of $230.77.

Boeing Price Performance

NYSE:BA opened at $216.12 on Monday. The firm has a market capitalization of $163.42 billion, a P/E ratio of -13.09 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. The company's fifty day moving average price is $228.76 and its 200-day moving average price is $199.57.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data 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. Boeing's revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.90) EPS. Equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 sale, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price 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. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

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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