Sage Mountain Advisors LLC Acquires 1,322 Shares of The Boeing Company $BA

Key Points

• Sage Mountain Advisors LLC increased its holdings in Boeing by 42.9%, acquiring an additional 1,322 shares, bringing its total to 4,407 shares valued at $923,000.
• Multiple hedge funds have made significant investments in Boeing, with notable purchases including a $378 million stake from Kingstone Capital Partners and a 243.8% increase by Canada Pension Plan Investment Board.
• Analyst ratings for Boeing show a generally positive outlook, with a range of price targets from $210 to $275 and a consensus rating of "Moderate Buy."

Sage Mountain Advisors LLC increased its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 42.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,407 shares of the aircraft producer's stock after acquiring an additional 1,322 shares during the period. Sage Mountain Advisors LLC's holdings in Boeing were worth $923,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BA. Kingstone Capital Partners Texas LLC bought a new stake in Boeing during the second quarter worth about $378,459,000. Vanguard Group Inc. boosted its stake in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after acquiring an additional 1,212,327 shares in the last quarter. Strs Ohio bought a new stake in Boeing during the first quarter worth about $98,984,000. Canada Pension Plan Investment Board boosted its stake in Boeing by 243.8% during the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock worth $128,689,000 after acquiring an additional 535,060 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in Boeing by 938.4% during the second quarter. Valeo Financial Advisors LLC now owns 556,814 shares of the aircraft producer's stock worth $116,669,000 after acquiring an additional 503,193 shares in the last quarter. Institutional investors own 64.82% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research note on Tuesday, September 30th. JPMorgan Chase & Co. upped their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Barclays upped their target price on shares of Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price on the stock in a research note on Friday, June 27th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 target price on shares of Boeing in a research note on Monday, September 29th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $242.32.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the company'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 $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company's stock in a transaction 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 completion of the transaction, the director owned 2,200 shares of the company's stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Boeing Trading Up 1.5%

Shares of BA stock opened at $221.13 on Friday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock has a market cap of $167.21 billion, a P/E ratio of -13.39 and a beta of 1.47. The company has a 50 day simple moving average of $221.68 and a two-hundred day simple moving average of $210.01.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates 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. During the same period in the prior year, the company posted ($2.90) earnings per share. The company's revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

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.

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