Private Client Services LLC Buys New Shares in The Boeing Company $BA

Key Points

• Private Client Services LLC has acquired 1,199 shares of The Boeing Company, valued at approximately $251,000, during the 2nd quarter of this year.
• Following its latest earnings report, Boeing's EPS of ($1.24) missed analysts' expectations, but the company saw a significant revenue increase of 34.9% year-over-year.
• Institutions now own about 64.82% of Boeing's stock, with several hedge funds making significant changes to their positions in recent quarters.

Private Client Services LLC bought a new stake in The Boeing Company (NYSE:BA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,199 shares of the aircraft producer's stock, valued at approximately $251,000.

Several other hedge funds have also recently made changes to their positions in BA. Zimmer Partners LP acquired a new position in shares of Boeing in the 4th quarter valued at $393,736,000. Sculptor Capital LP acquired a new position in shares of Boeing in the 4th quarter valued at $265,500,000. Vanguard Group Inc. boosted its holdings in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Boeing by 19,333.1% in the first quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer's stock valued at $170,190,000 after purchasing an additional 992,753 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Boeing in the first quarter valued at $98,984,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on BA. Susquehanna upped their price target on shares of Boeing from $265.00 to $270.00 and gave the company a "positive" rating in a report on Wednesday, July 30th. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the company a "buy" rating in a report on Thursday, June 12th. TD Securities downgraded shares of Boeing to a "cautious" rating in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 price objective on shares of Boeing in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $230.77.

Boeing Stock Down 1.8%

BA opened at $216.12 on Friday. The company has a market cap of $163.42 billion, a PE ratio of -13.09 and a beta of 1.48. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The company has a 50-day moving average price of $228.76 and a 200 day moving average price of $199.39.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. The company's revenue was up 34.9% compared to the same quarter last year. During the same period last year, the firm posted ($2.90) EPS. As a group, sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the acquisition, the director owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

About Boeing

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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