Redwood Investment Management LLC Makes New $223,000 Investment in The Boeing Company $BA

Key Points

• Redwood Investment Management LLC has acquired 1,308 shares of The Boeing Company, valued at approximately $223,000, as disclosed in a recent SEC filing.
• Several institutional investors increased their stakes in Boeing, with American National Bank & Trust boosting its position by 474.1% during the first quarter.
• Boeing's recent quarterly earnings report showed a revenue of $22.75 billion, exceeding estimates, despite a loss of ($1.24) per share that missed analyst expectations.

Redwood Investment Management LLC purchased a new position in shares of The Boeing Company (NYSE:BA - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,308 shares of the aircraft producer's stock, valued at approximately $223,000.

Several other institutional investors also recently modified their holdings of the business. American National Bank & Trust grew its holdings in Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after purchasing an additional 128 shares during the period. REAP Financial Group LLC grew its holdings in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after purchasing an additional 65 shares during the period. Dogwood Wealth Management LLC grew its holdings in Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 112 shares during the period. Heck Capital Advisors LLC acquired a new position in Boeing during the fourth quarter valued at approximately $33,000. Finally, Proathlete Wealth Management LLC acquired a new position in Boeing during the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Price Performance

Shares of Boeing stock traded down $1.27 on Friday, hitting $234.89. The company had a trading volume of 4,997,620 shares, compared to its average volume of 6,112,390. The stock has a 50-day moving average of $224.62 and a 200-day moving average of $196.11. The firm has a market capitalization of $177.61 billion, a P/E ratio of -14.23 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.

Boeing (NYSE:BA - Get Free Report) last announced 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 firm had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. The firm's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.90) earnings per share. Equities analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group set a $280.00 price objective on shares of Boeing and gave the company a "buy" rating in a report on Wednesday, July 30th. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a report on Monday, July 14th. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. TD Securities cut shares of Boeing to a "cautious" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group boosted their price objective on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $228.90.

Insiders Place Their Bets

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 value of $867,103.74. Following the sale, the executive vice president owned 35,873 shares of the company's stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was 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 $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.

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.