RPG Investment Advisory LLC Buys 51,163 Shares of The Boeing Company $BA

Key Points

• RPG Investment Advisory LLC increased its stake in The Boeing Company by 100.1%, owning a total of 102,262 shares valued at approximately $17.4 million.
• Boeing reported a revenue of $22.75 billion for the last quarter, which exceeded analysts' expectations of $20.13 billion, while its quarterly earnings per share were ($1.24), missing the consensus estimate.
• Wall Street analysts have varied ratings on Boeing, with a consensus average rating of "Moderate Buy" and a price target of $228.90.

RPG Investment Advisory LLC boosted its position in shares of The Boeing Company (NYSE:BA - Free Report) by 100.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,262 shares of the aircraft producer's stock after purchasing an additional 51,163 shares during the period. RPG Investment Advisory LLC's holdings in Boeing were worth $17,441,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BA. Vestcor Inc lifted its stake in shares of Boeing by 9.0% in the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after purchasing an additional 1,195 shares during the last quarter. National Pension Service boosted its holdings in Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock worth $227,365,000 after purchasing an additional 218,049 shares in the last quarter. KKM Financial LLC increased its position in Boeing by 50.8% during the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock worth $2,720,000 after buying an additional 5,175 shares during the last quarter. Wynn Capital LLC bought a new position in Boeing during the first quarter valued at about $584,000. Finally, Advanced Portfolio Management LLC lifted its position in shares of Boeing by 182.2% in the fourth quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer's stock worth $2,655,000 after buying an additional 9,684 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of NYSE BA traded up $5.3150 during mid-day trading on Friday, hitting $229.7750. The company had a trading volume of 8,672,974 shares, compared to its average volume of 7,126,503. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The firm has a market cap of $173.75 billion, a P/E ratio of -13.92 and a beta of 1.48. The business's 50-day simple moving average is $221.17 and its 200-day simple moving average is $194.34.

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 company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter last year, the company earned ($2.90) EPS. The firm's revenue for the quarter was up 34.9% on a year-over-year basis. As a group, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In related news, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction on Friday, August 8th. The stock was 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 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 bought 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares of the company's stock, valued at $497,420. This trade 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.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of analyst reports. Sanford C. Bernstein reissued an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Citigroup reaffirmed a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Royal Bank Of Canada reissued an "outperform" rating and issued a $250.00 price target on shares of Boeing in a research report on Wednesday, July 30th. TD Securities cut shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.