Oak Harvest Investment Services Makes New $2.28 Million Investment in The Boeing Company $BA

Key Points

• Oak Harvest Investment Services has acquired a new stake in The Boeing Company, purchasing 13,359 shares valued at approximately $2.27 million.
• Brokerages have recently raised their price targets for Boeing, with Bank of America increasing it from $260 to $270 and UBS Group setting a target at $280.
• Boeing's recent earnings report revealed a loss of ($1.24) EPS, missing analyst estimates, but revenue grew by 34.9% year-over-year, totaling $22.75 billion.

Oak Harvest Investment Services bought a new position in The Boeing Company (NYSE:BA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,359 shares of the aircraft producer's stock, valued at approximately $2,278,000.

Several other institutional investors have also recently made changes to their positions in the stock. Monetary Management Group Inc. boosted its position in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after purchasing an additional 50 shares in the last quarter. Heritage Financial Services LLC boosted its position in Boeing by 4.2% during the first quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer's stock worth $216,000 after purchasing an additional 51 shares in the last quarter. Wood Tarver Financial Group LLC boosted its position in Boeing by 14.3% during the first quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer's stock worth $75,000 after purchasing an additional 55 shares in the last quarter. Signature Wealth Management Partners LLC boosted its position in Boeing by 2.0% during the first quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer's stock worth $493,000 after purchasing an additional 57 shares in the last quarter. Finally, Byrne Financial Freedom LLC boosted its position in Boeing by 3.0% during the first quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer's stock worth $340,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 64.82% of the company's stock.

Boeing Price Performance

Shares of NYSE:BA traded up $1.01 during midday trading on Wednesday, hitting $235.84. The company had a trading volume of 4,746,620 shares, compared to its average volume of 6,531,517. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock has a market cap of $178.33 billion, a price-to-earnings ratio of -14.28 and a beta of 1.48. The business's 50-day simple moving average is $222.36 and its 200-day simple moving average is $195.00.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate 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. During the same period in the previous year, the company posted ($2.90) earnings per share. The business's revenue was up 34.9% on a year-over-year basis. As a group, sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

BA has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price target on Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their price target on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Susquehanna increased their price target on Boeing from $265.00 to $270.00 and gave the stock a "positive" rating in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Boeing presently has a consensus rating of "Moderate Buy" and an average price target of $228.90.

Insider Activity at Boeing

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

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.