Rheos Capital Works Inc. Grows Stock Holdings in The Boeing Company $BA

Key Points

• Rheos Capital Works Inc. increased its stake in The Boeing Company by 88.7%, owning 106,400 shares valued at approximately $22.3 million after acquiring an additional 50,000 shares in the second quarter.
• Boeing reported a quarterly earnings loss of ($1.24) EPS, missing the consensus estimate, despite achieving $22.75 billion in revenue, which was above expectations.
• Various analysts have upgraded Boeing's stock rating, with the average price target now at $240.20, reflecting a consensus rating of "Moderate Buy".

Rheos Capital Works Inc. increased its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 88.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,400 shares of the aircraft producer's stock after purchasing an additional 50,000 shares during the period. Boeing makes up 1.3% of Rheos Capital Works Inc.'s holdings, making the stock its 25th biggest position. Rheos Capital Works Inc.'s holdings in Boeing were worth $22,294,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC acquired a new position in shares of Boeing in the 4th quarter valued at about $201,000. GAMMA Investing LLC lifted its holdings in Boeing by 13.9% in the first quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer's stock valued at $998,000 after acquiring an additional 716 shares during the period. Ritholtz Wealth Management lifted its holdings in Boeing by 103.5% in the first quarter. Ritholtz Wealth Management now owns 10,062 shares of the aircraft producer's stock valued at $1,716,000 after acquiring an additional 5,117 shares during the period. Good Life Advisors LLC boosted its position in Boeing by 3.0% in the 1st quarter. Good Life Advisors LLC now owns 7,618 shares of the aircraft producer's stock worth $1,299,000 after purchasing an additional 222 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Boeing in the 1st quarter worth approximately $24,207,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Down 0.6%

BA stock opened at $214.31 on Wednesday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The firm has a 50-day simple moving average of $223.95 and a 200-day simple moving average of $206.92. The stock has a market capitalization of $162.05 billion, a P/E ratio of -12.98 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last posted 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 company had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter last year, the firm posted ($2.90) EPS. The company's revenue was up 34.9% compared to the same quarter last year. On average, analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Buying and Selling

In other Boeing news, Director Mortimer J. Buckley bought 2,200 shares of Boeing 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 completion of the transaction, the director directly owned 2,200 shares of the company's stock, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction 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 represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Susquehanna reiterated a "positive" rating and issued a $270.00 target price on shares of Boeing in a research note on Monday, September 15th. Barclays lifted their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Citigroup restated a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.