QRG Capital Management Inc. Purchases 10,237 Shares of The Boeing Company $BA

Key Points

• QRG Capital Management Inc. increased its holdings in The Boeing Company by 15.5%, acquiring 10,237 shares during the second quarter, bringing their total to 76,240 shares valued at approximately $15.97 million.
• Various institutional investors, including Piscataqua Savings Bank and Iron Horse Wealth Management LLC, have made notable increases to their positions in Boeing, contributing to an overall 64.82% institutional ownership of the company's stock.
• Analysts have mixed views on Boeing, with ratings ranging from "Strong Buy" to "Sell," and a consensus target price of $233.91, indicating a generally positive outlook despite recent earnings miss.

QRG Capital Management Inc. raised its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 15.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,240 shares of the aircraft producer's stock after buying an additional 10,237 shares during the quarter. QRG Capital Management Inc.'s holdings in Boeing were worth $15,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Piscataqua Savings Bank grew its position in Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after acquiring an additional 137 shares during the last quarter. Proathlete Wealth Management LLC purchased a new stake in Boeing in the 1st quarter worth approximately $34,000. Monetary Management Group Inc. boosted its holdings in Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after acquiring an additional 50 shares in the last quarter. Columbia River Financial Group LLC purchased a new stake in shares of Boeing in the 1st quarter worth about $50,000. Finally, Iron Horse Wealth Management LLC boosted its position in Boeing by 33.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer's stock valued at $51,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 64.82% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

BA has been the subject of several research reports. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a research note on Friday, June 27th. Susquehanna reaffirmed a "positive" rating and issued a $270.00 target price on shares of Boeing in a report on Monday, September 15th. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Sanford C. Bernstein lifted their target price on Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a "buy" rating in a research note on Thursday, June 12th. 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 three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $233.91.

Boeing Stock Performance

BA opened at $216.32 on Friday. The stock's 50 day moving average price is $225.06 and its 200-day moving average price is $204.98. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The stock has a market cap of $163.57 billion, a price-to-earnings ratio of -13.10 and a beta of 1.47.

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