Panoramic Capital LLC Invests $2.13 Million in The Boeing Company $BA

Key Points

• Panoramic Capital LLC invested approximately $2.13 million in The Boeing Company, acquiring 12,500 shares, which constitutes about 2.3% of its investment portfolio.
• Several institutional investors have recently increased their positions in Boeing, with notable boosts from Nissay Asset Management Corp Japan ADV (4.1%) and NewEdge Advisors LLC (27.1%).
• Boeing's latest earnings report showed a revenue increase of 34.9% year-over-year, despite missing the earnings per share (EPS) consensus estimate by $0.32.

Panoramic Capital LLC purchased a new position in shares of The Boeing Company (NYSE:BA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,500 shares of the aircraft producer's stock, valued at approximately $2,132,000. Boeing makes up about 2.3% of Panoramic Capital LLC's investment portfolio, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV boosted its position in shares of Boeing by 4.1% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 90,947 shares of the aircraft producer's stock worth $15,511,000 after purchasing an additional 3,601 shares in the last quarter. NewEdge Advisors LLC lifted its position in Boeing by 27.1% in the 1st quarter. NewEdge Advisors LLC now owns 82,023 shares of the aircraft producer's stock valued at $13,989,000 after acquiring an additional 17,504 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Boeing by 13.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,934 shares of the aircraft producer's stock valued at $14,315,000 after acquiring an additional 10,262 shares in the last quarter. Hancock Whitney Corp lifted its position in Boeing by 2.8% in the 1st quarter. Hancock Whitney Corp now owns 4,157 shares of the aircraft producer's stock valued at $709,000 after acquiring an additional 112 shares in the last quarter. Finally, Banque Transatlantique SA lifted its position in Boeing by 1,134.4% in the 1st quarter. Banque Transatlantique SA now owns 3,086 shares of the aircraft producer's stock valued at $486,000 after acquiring an additional 2,836 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BA shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Finally, Barclays boosted their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $228.90.

Insider Activity

In other news, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction dated 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 completion of the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Boeing Price Performance

Shares of NYSE:BA opened at $229.40 on Friday. The company's 50-day moving average price is $227.54 and its two-hundred day moving average price is $197.69. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The stock has a market capitalization of $173.47 billion, a PE ratio of -13.89 and a beta of 1.48.

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 the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter in the previous year, the business earned ($2.90) earnings per share. Boeing's quarterly revenue was up 34.9% on a year-over-year basis. On average, analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Boeing 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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