Osterweis Capital Management Inc. Acquires 26,522 Shares of The Boeing Company $BA

Key Points

• Osterweis Capital Management Inc. increased its holdings in The Boeing Company by 31.8%, purchasing an additional 26,522 shares, bringing their total to 109,881 shares worth approximately $18.74 million.
• Boeing's stock has seen a decline of 3.0%, currently trading at $225.40, with a 12-month range of $128.88 to $242.69.
• The company recently reported an earnings per share (EPS) of ($1.24), missing analysts' estimates, but its revenue rose 34.9% year-over-year to $22.75 billion.

Osterweis Capital Management Inc. increased its holdings in The Boeing Company (NYSE:BA - Free Report) by 31.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,881 shares of the aircraft producer's stock after purchasing an additional 26,522 shares during the period. Osterweis Capital Management Inc.'s holdings in Boeing were worth $18,740,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BA. American National Bank & Trust boosted its holdings in Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after acquiring an additional 128 shares during the period. REAP Financial Group LLC boosted its holdings in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after acquiring an additional 65 shares during the period. Dogwood Wealth Management LLC boosted its holdings in Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after acquiring an additional 112 shares during the period. Heck Capital Advisors LLC bought a new stake in Boeing during the fourth quarter valued at about $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Boeing by 122.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 191 shares of the aircraft producer's stock valued at $34,000 after acquiring an additional 105 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Down 3.0%

NYSE:BA opened at $225.40 on Wednesday. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The firm has a market capitalization of $170.44 billion, a PE ratio of -13.65 and a beta of 1.48. The firm has a 50-day moving average price of $219.94 and a 200 day moving average price of $193.33.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BA shares. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the company a "buy" rating in a report on Thursday, June 12th. Royal Bank Of Canada restated an "outperform" rating and set a $250.00 price target on shares of Boeing in a report on Wednesday, July 30th. Bank of America upped their price target on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Finally, Citigroup reiterated a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Three research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $228.90.

Insider Activity

In other news, EVP David Christopher Raymond sold 3,771 shares of Boeing 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 transaction, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.

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