Park Avenue Securities LLC Buys 3,797 Shares of The Boeing Company $BA

Key Points

• Park Avenue Securities LLC increased its stake in Boeing by 28.5% during the 2nd quarter, owning a total of 17,116 shares valued at $3,586,000 at the quarter's end.
• Several institutions have significantly boosted their holdings in Boeing, with Piscataqua Savings Bank raising its stake by 1,712.5% during the same period.
• Boeing's stock has seen an analyst target price increase from $260 to $280, with 18 analysts rating it as a Buy or Strong Buy, reflecting strong market sentiment despite a recent quarterly EPS miss.

Park Avenue Securities LLC grew its stake in The Boeing Company (NYSE:BA - Free Report) by 28.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,116 shares of the aircraft producer's stock after acquiring an additional 3,797 shares during the period. Park Avenue Securities LLC's holdings in Boeing were worth $3,586,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Piscataqua Savings Bank lifted its stake in Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after purchasing an additional 137 shares during the last quarter. American National Bank & Trust lifted its stake in Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after purchasing an additional 128 shares during the last quarter. REAP Financial Group LLC lifted its stake in Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after purchasing an additional 65 shares during the last quarter. Dogwood Wealth Management LLC lifted its stake in Boeing by 167.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 112 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in Boeing in the 4th quarter valued at about $33,000. Institutional investors own 64.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Bank of America raised their target price on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Jefferies Financial Group raised their target price on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. UBS Group set a $280.00 price objective on shares of Boeing and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Susquehanna restated a "positive" rating and set a $270.00 price objective on shares of Boeing in a research report on Monday, September 15th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and an average target price of $230.77.

Boeing Trading Down 1.6%

Shares of BA opened at $212.26 on Tuesday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The firm's 50 day moving average is $227.61 and its 200-day moving average is $201.73. The stock has a market capitalization of $160.50 billion, a PE ratio of -12.86 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last announced its 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 firm had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter in the previous year, the company earned ($2.90) earnings per share. The company's revenue for the quarter was up 34.9% on a year-over-year basis. Equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In other news, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at $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. 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.

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