Patten & Patten Inc. TN Acquires 5,730 Shares of The Boeing Company $BA

Key Points

• Patten & Patten Inc. TN increased its holdings in The Boeing Company by 22.9%, acquiring an additional 5,730 shares in the second quarter, bringing its total to 30,778 shares worth approximately $6,449,000.
• Boeing is experiencing mixed analyst sentiment, with price targets set between $255.00 to $270.00, and an average rating of "Moderate Buy" among analysts.
• The company reported a loss of ($1.24) EPS for its most recent quarter, missing estimates, despite a 34.9% increase in revenue year-over-year.

Patten & Patten Inc. TN grew its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 22.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,778 shares of the aircraft producer's stock after acquiring an additional 5,730 shares during the period. Patten & Patten Inc. TN's holdings in Boeing were worth $6,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Aspire Capital Advisors LLC increased its stake in Boeing by 0.8% during the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer's stock valued at $1,245,000 after purchasing an additional 45 shares in the last quarter. Lantz Financial LLC increased its stake in Boeing by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer's stock valued at $644,000 after purchasing an additional 46 shares in the last quarter. Atlas Brown Inc. increased its stake in Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock valued at $1,362,000 after purchasing an additional 48 shares in the last quarter. Moody National Bank Trust Division increased its stake in Boeing by 2.7% during the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer's stock valued at $385,000 after purchasing an additional 48 shares in the last quarter. Finally, Heck Capital Advisors LLC increased its stake in Boeing by 3.6% during the 2nd quarter. Heck Capital Advisors LLC now owns 1,398 shares of the aircraft producer's stock valued at $293,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 64.82% of the company's stock.

Boeing Stock Performance

BA stock opened at $214.08 on Thursday. The firm has a market cap of $161.88 billion, a PE ratio of -12.97 and a beta of 1.47. The firm's fifty day moving average is $223.73 and its 200 day moving average is $206.97. The Boeing Company has a one year low of $128.88 and a one year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $20.13 billion. The business's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.90) EPS. Research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BA. Bank of America increased their price objective on shares of Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Boeing in a research note on Wednesday, October 8th. Citigroup reiterated a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research note on Tuesday, September 30th. Finally, Susquehanna reiterated a "positive" rating and issued a $270.00 price objective on shares of Boeing in a research note on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $240.20.

Insider Buying and Selling at Boeing

In related news, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction 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 acquisition, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This trade represents 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 the 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 transaction, the executive vice president directly 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 disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

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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