Pittenger & Anderson Inc. Invests $629,000 in The Boeing Company $BA

Key Points

• Pittenger & Anderson Inc. has invested approximately $629,000 in The Boeing Company by acquiring 3,003 shares during the second quarter, as reported in a Form 13F filing with the SEC.
• Bank of America raised its price target for Boeing from $260.00 to $270.00, maintaining a "buy" rating, while UBS Group set a price target of $280.00 with the same rating.
• Boeing's stock is trading at $217.29, with a market capitalization of $164.30 billion and a 1-year performance ranging from a low of $128.88 to a high of $242.69.

Pittenger & Anderson Inc. acquired a new position in shares of The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,003 shares of the aircraft producer's stock, valued at approximately $629,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC boosted its holdings in Boeing by 6.2% in the second quarter. Avidian Wealth Enterprises LLC now owns 4,342 shares of the aircraft producer's stock valued at $910,000 after purchasing an additional 253 shares in the last quarter. Journey Advisory Group LLC boosted its holdings in Boeing by 21.9% in the second quarter. Journey Advisory Group LLC now owns 2,038 shares of the aircraft producer's stock valued at $427,000 after purchasing an additional 366 shares in the last quarter. Bogart Wealth LLC boosted its holdings in Boeing by 11.9% in the second quarter. Bogart Wealth LLC now owns 1,903 shares of the aircraft producer's stock valued at $399,000 after purchasing an additional 202 shares in the last quarter. First Interstate Bank acquired a new position in Boeing in the second quarter valued at approximately $205,000. Finally, Drive Wealth Management LLC boosted its holdings in Boeing by 3.3% in the second quarter. Drive Wealth Management LLC now owns 1,579 shares of the aircraft producer's stock valued at $331,000 after purchasing an additional 50 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,771 shares of the company's 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 of the company's stock, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company's stock in a transaction dated 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 transaction, the director owned 2,200 shares of the company's stock, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Bank of America upped their price target on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Jefferies Financial Group set a $255.00 price target on Boeing in a report on Tuesday, September 30th. UBS Group set a $280.00 price target on Boeing and gave the company a "buy" rating in a report on Wednesday, July 30th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 price objective on shares of Boeing in a research note on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $240.20.

Boeing Stock Performance

NYSE:BA opened at $217.29 on Wednesday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a market capitalization of $164.30 billion, a price-to-earnings ratio of -13.16 and a beta of 1.47. The stock has a fifty day moving average price of $222.62 and a two-hundred day moving average price of $208.85.

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

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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