Retirement Planning Group LLC Takes Position in The Boeing Company $BA

Key Points

• Retirement Planning Group LLC has acquired a new stake in The Boeing Company, purchasing 1,345 shares valued at approximately $282,000 in the second quarter.
• Boeing reported a quarterly loss of ($1.24) earnings per share, missing expert estimates, but achieved revenue of $22.75 billion, which exceeded analyst expectations.
• Several institutional investors, including Vanguard Group Inc. and UBS AM, have increased their stakes in Boeing, highlighting a strong interest from hedge funds and institutional ownership now standing at 64.82%.

Retirement Planning Group LLC acquired a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,345 shares of the aircraft producer's stock, valued at approximately $282,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew 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 purchasing an additional 1,212,327 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Boeing by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock valued at $715,979,000 after purchasing an additional 19,615 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Boeing by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer's stock valued at $500,247,000 after purchasing an additional 91,707 shares in the last quarter. Swiss National Bank grew its position in shares of Boeing by 2.5% during the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer's stock valued at $359,895,000 after purchasing an additional 51,700 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Boeing by 3.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer's stock valued at $335,770,000 after purchasing an additional 69,560 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Price Performance

Shares of NYSE BA opened at $216.55 on Thursday. The company has a market cap of $163.75 billion, a P/E ratio of -13.12 and a beta of 1.47. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm has a 50-day simple moving average of $222.28 and a two-hundred day simple moving average of $208.91.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $20.13 billion. Boeing's revenue was up 34.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.90) earnings per share. As a group, equities research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction dated 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 sale, the executive vice president 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director directly owned 2,200 shares of the company's stock, valued at approximately $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BA. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Jefferies Financial Group set a $255.00 price target on Boeing in a research report on Tuesday, September 30th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 price target on shares of Boeing in a research report on Monday, September 29th. UBS Group set a $280.00 price target on Boeing and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Sanford C. Bernstein lifted their price target on Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a research report on Thursday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $240.20.

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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