Sagespring Wealth Partners LLC Buys 3,421 Shares of The Boeing Company $BA

Key Points

• Sagespring Wealth Partners LLC increased its stake in Boeing by 47.7%, acquiring an additional 3,421 shares, bringing their total holdings to 10,586 shares valued at approximately $2.2 million.
• Insider trading activity was noted, with **EVP David Christopher Raymond** selling 3,771 shares and **Director Mortimer J. Buckley** acquiring 2,200 shares of Boeing stock.
• Equity analysts have recently upgraded their ratings for Boeing, with target prices ranging from $240 to $282 following positive revenue performance and an average rating of "Moderate Buy."

Sagespring Wealth Partners LLC boosted its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 47.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,586 shares of the aircraft producer's stock after purchasing an additional 3,421 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Boeing were worth $2,218,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Piscataqua Savings Bank boosted its position in shares of Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after acquiring an additional 137 shares during the last quarter. Proathlete Wealth Management LLC bought a new position in shares of Boeing during the first quarter worth $34,000. Monetary Management Group Inc. boosted its position in shares of Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after acquiring an additional 50 shares during the last quarter. Keener Financial Planning LLC bought a new position in shares of Boeing during the second quarter worth $41,000. Finally, Dogwood Wealth Management LLC boosted its position in shares of Boeing by 30.4% during the second quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer's stock worth $52,000 after acquiring an additional 56 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction on 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 owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the acquisition, the director owned 2,200 shares in the company, valued at $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 owned by insiders.

Boeing Stock Performance

Shares of Boeing stock opened at $214.31 on Wednesday. The stock has a market cap of $162.05 billion, a price-to-earnings ratio of -12.98 and a beta of 1.47. The stock has a 50 day moving average price of $223.95 and a 200-day moving average price of $206.92. The Boeing Company has a one year low of $128.88 and a one year high of $242.69.

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 firm had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. The business's revenue for the quarter was up 34.9% on a year-over-year basis. During the same period last year, the business posted ($2.90) EPS. Sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Vertical Research upgraded shares of Boeing from a "hold" rating to a "buy" rating and upped their target price for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $250.00 price objective on shares of Boeing in a research note on Monday, September 29th. Sanford C. Bernstein lifted their price objective on Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Boeing in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group set a $255.00 price objective on Boeing in a research note on Tuesday, September 30th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently 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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