Prime Capital Investment Advisors LLC Boosts Stake in The Boeing Company $BA

Key Points

• Prime Capital Investment Advisors LLC increased its stake in The Boeing Company by 5.0% during the second quarter, owning 31,766 shares valued at $6,656,000.
• Several institutional investors have made significant changes to their holdings in Boeing, with Vanguard Group increasing its position by 1.9% and Canada Pension Plan Investment Board boosting its stake by 243.8%.
• Boeing reported a quarterly EPS of ($1.24), missing estimates, but saw a 34.9% year-over-year increase in revenue, reaching $22.75 billion.

Prime Capital Investment Advisors LLC raised its position in The Boeing Company (NYSE:BA - Free Report) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,766 shares of the aircraft producer's stock after purchasing an additional 1,518 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Boeing were worth $6,656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BA. Kingstone Capital Partners Texas LLC purchased a new stake in Boeing during the second quarter worth approximately $378,459,000. Vanguard Group Inc. lifted its holdings in shares of Boeing by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares in the last quarter. Strs Ohio acquired a new position in shares of Boeing during the 1st quarter valued at $98,984,000. Canada Pension Plan Investment Board boosted its position in Boeing by 243.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock worth $128,689,000 after purchasing an additional 535,060 shares during the period. Finally, Valeo Financial Advisors LLC increased its holdings in Boeing by 938.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 556,814 shares of the aircraft producer's stock valued at $116,669,000 after purchasing an additional 503,193 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Trading Up 1.5%

Shares of NYSE:BA opened at $219.62 on Tuesday. The company has a 50 day moving average of $224.72 and a 200-day moving average of $205.50. The firm has a market cap of $166.07 billion, a P/E ratio of -13.30 and a beta of 1.47. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data 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 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 prior year, the company earned ($2.90) earnings per share. Boeing's revenue was up 34.9% on a year-over-year basis. Equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In other news, EVP David Christopher Raymond sold 3,771 shares of the business'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 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 legal filing with the SEC, which is available at this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, for a total transaction 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 position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Vertical Research raised Boeing from a "hold" rating to a "buy" rating and upped their target price for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research report on Tuesday, September 30th. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 target price on shares of Boeing in a research report on Monday, September 29th. Finally, Sanford C. Bernstein raised their target price on Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $233.91.

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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