Ransom Advisory Ltd Takes Position in The Boeing Company $BA

Key Points

• Ransom Advisory Ltd has acquired a new stake in Boeing, purchasing 3,400 shares valued at approximately $580,000 in the first quarter.
• Multiple large investors, including American National Bank & Trust and Dogwood Wealth Management, have significantly increased their positions in Boeing, indicating strong institutional interest with 64.82% of the stock owned by hedge funds and other investors.
• Boeing reported an EPS of ($1.24) for the recent quarter, missing estimates, yet their revenue of $22.75 billion surpassed expectations, showing a year-over-year growth of 34.9%.

Ransom Advisory Ltd purchased a new stake in shares of The Boeing Company (NYSE:BA - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,400 shares of the aircraft producer's stock, valued at approximately $580,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BA. Zimmer Partners LP bought a new stake in shares of Boeing during the fourth quarter valued at about $393,736,000. Sculptor Capital LP bought a new stake in shares of Boeing during the fourth quarter valued at about $265,500,000. Vanguard Group Inc. increased its position in shares of Boeing by 1.9% during 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 buying an additional 1,212,327 shares during the period. GAMMA Investing LLC increased its position in shares of Boeing by 19,333.1% during the first quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer's stock valued at $170,190,000 after buying an additional 992,753 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Boeing by 243.8% during the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock valued at $128,689,000 after buying an additional 535,060 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BA has been the topic of several analyst reports. Susquehanna upped their price target on Boeing from $265.00 to $270.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. Bank of America upped their price objective on shares of Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. UBS Group set a $280.00 price objective on shares of Boeing and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and upped their price objective for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Finally, Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $230.77.

Insider Buying and Selling

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

Boeing Price Performance

NYSE BA traded down $3.87 on Friday, reaching $216.12. 11,078,950 shares of the company's stock traded hands, compared to its average volume of 6,130,396. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock has a 50-day simple moving average of $228.76 and a 200 day simple moving average of $199.39. The stock has a market cap of $163.42 billion, a PE ratio of -13.09 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results 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 analyst estimates of $20.13 billion. During the same quarter in the prior year, the firm earned ($2.90) EPS. Boeing's revenue was up 34.9% on a year-over-year basis. As a group, analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Boeing 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.