Relyea Zuckerberg Hanson LLC Purchases New Shares in The Boeing Company $BA

Key Points

• Relyea Zuckerberg Hanson LLC purchased 1,243 shares of The Boeing Company, valued at approximately $260,000, marking a significant acquisition for the fund during the second quarter.
• Institutional investors currently own 64.82% of Boeing's stock, with notable increases in holdings reported by several funds during the recent quarters.
• Boeing reported a revenue increase of 34.9% year-over-year but fell short of earnings expectations for the latest quarter, posting an EPS of ($1.24) versus the anticipated ($0.92).

Relyea Zuckerberg Hanson LLC acquired a new position in The Boeing Company (NYSE:BA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,243 shares of the aircraft producer's stock, valued at approximately $260,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Piscataqua Savings Bank grew its holdings in Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after acquiring an additional 137 shares during the last quarter. Proathlete Wealth Management LLC acquired a new position in shares of Boeing during the first quarter worth approximately $34,000. Monetary Management Group Inc. grew its stake in shares of Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after purchasing an additional 50 shares during the last quarter. Columbia River Financial Group LLC acquired a new stake in shares of Boeing in the first quarter valued at approximately $50,000. Finally, Iron Horse Wealth Management LLC raised its position in Boeing by 33.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer's stock worth $51,000 after purchasing an additional 75 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction that occurred on 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 transaction, 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. Company insiders own 0.09% of the company's stock.

Boeing Trading Up 1.5%

Boeing stock opened at $219.62 on Tuesday. The firm has a market capitalization of $166.07 billion, a P/E ratio of -13.30 and a beta of 1.47. The business has a 50-day moving average of $224.72 and a 200-day moving average of $205.50. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on BA shares. Citigroup reiterated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Bank of America raised their price target on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective for the company in a report on Friday, June 27th. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Finally, Susquehanna reiterated a "positive" rating and set a $270.00 price target on shares of Boeing in a research report on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and an average target price of $233.91.

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.

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