Resolute Capital Asset Partners LLC Invests $9.38 Million in The Boeing Company $BA

Key Points

• Resolute Capital Asset Partners LLC has made a new investment in Boeing, purchasing 55,000 shares worth approximately $9.38 million, which represents around 5.3% of their total holdings.
• Institutional investors now own about 64.82% of Boeing's stock, with significant increases in shareholdings from other institutions, including American National Bank & Trust lifting its position by 474.1%.
• Boeing's recent earnings report showed a 34.9% increase in revenue year-over-year, despite a reported loss of ($1.24) EPS, missing analyst expectations.

Resolute Capital Asset Partners LLC purchased a new stake in The Boeing Company (NYSE:BA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 55,000 shares of the aircraft producer's stock, valued at approximately $9,380,000. Boeing makes up about 5.3% of Resolute Capital Asset Partners LLC's investment portfolio, making the stock its 5th biggest holding.

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

Boeing Stock Down 1.5%

BA traded down $3.37 during trading on Monday, hitting $226.75. The company's stock had a trading volume of 4,634,214 shares, compared to its average volume of 7,329,001. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock's fifty day moving average price is $221.67 and its 200-day moving average price is $194.72. The firm has a market capitalization of $171.46 billion, a P/E ratio of -13.73 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) 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 analysts' expectations of $20.13 billion. During the same quarter in the previous year, the business posted ($2.90) earnings per share. The business's revenue for the quarter was up 34.9% on a year-over-year basis. Equities research analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity at Boeing

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost 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 represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the business's 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 completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BA shares. Bank of America lifted their target price on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Barclays lifted their target price on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Morgan Stanley reiterated an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price on the stock in a research report on Friday, June 27th. Finally, KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and a consensus target price of $228.90.

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.