Pure Financial Advisors LLC Buys 17,206 Shares of The Boeing Company $BA

Key Points

• Pure Financial Advisors LLC increased its position in Boeing shares by 182.5%, acquiring an additional 17,206 shares, bringing their total holdings to 26,636 shares valued at approximately $5.58 million.
• Boeing's recent earnings report showed an EPS of ($1.24), which missed analyst expectations, but revenue rose by 34.9% year-over-year to $22.75 billion.
• Major investment firms, including Vanguard Group and Canada Pension Plan Investment Board, have significantly increased their stakes in Boeing, indicating strong support for the stock among institutional investors.

Pure Financial Advisors LLC raised its position in shares of The Boeing Company (NYSE:BA - Free Report) by 182.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,636 shares of the aircraft producer's stock after purchasing an additional 17,206 shares during the quarter. Pure Financial Advisors LLC's holdings in Boeing were worth $5,581,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC bought a new stake in Boeing in the second quarter worth $378,459,000. Vanguard Group Inc. increased its position 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 purchasing an additional 1,212,327 shares during the last quarter. Strs Ohio bought a new position in shares of Boeing during the 1st quarter valued at approximately $98,984,000. Canada Pension Plan Investment Board grew its position in Boeing by 243.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock valued at $128,689,000 after acquiring an additional 535,060 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Boeing by 38.4% in the 1st quarter. Deutsche Bank AG now owns 1,805,186 shares of the aircraft producer's stock valued at $307,874,000 after acquiring an additional 501,161 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 0.3%

Shares of Boeing stock opened at $215.24 on Thursday. The firm has a market cap of $162.75 billion, a P/E ratio of -13.04 and a beta of 1.47. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock's fifty day moving average price is $225.67 and its 200-day moving average price is $204.00.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results 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 business had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter in the previous year, the business earned ($2.90) EPS. Boeing's revenue was up 34.9% compared to the same quarter last year. Analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup reissued a "buy" rating on shares of Boeing in a research report on Monday, July 28th. UBS Group set a $280.00 price target on Boeing and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and lifted their target price for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Bank of America lifted their price objective on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $231.00.

Insider Buying and Selling

In other news, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was 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 directly owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

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.

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.