Scientech Research LLC Buys 4,085 Shares of The Boeing Company $BA

Key Points

• Scientech Research LLC increased its stake in Boeing by 150.5%, acquiring an additional 4,085 shares, bringing its total holdings to 6,799 shares worth approximately $1,160,000.
• Boeing's stock currently holds a Moderate Buy rating from analysts, with a consensus target price of $228.90, following recent upgrades from firms like Redburn Atlantic and UBS Group.
• Despite reporting a net loss of ($1.24) EPS for the last quarter, Boeing's revenue increased by 34.9% year over year, reaching $22.75 billion.

Scientech Research LLC lifted its stake in The Boeing Company (NYSE:BA - Free Report) by 150.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,799 shares of the aircraft producer's stock after acquiring an additional 4,085 shares during the period. Scientech Research LLC's holdings in Boeing were worth $1,160,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. American National Bank & Trust boosted its stake in Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after buying an additional 128 shares during the period. REAP Financial Group LLC increased its stake in Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after acquiring an additional 65 shares during the last quarter. Dogwood Wealth Management LLC raised its holdings in shares of Boeing by 167.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after acquiring an additional 112 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Boeing during the 4th quarter valued at about $33,000. Finally, Proathlete Wealth Management LLC purchased a new position in shares of Boeing during the first quarter worth about $34,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction dated Friday, August 8th. The shares were 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 of the company's stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the business's stock in a transaction that occurred on 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 purchase, the director directly owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Boeing Stock Down 1.4%

Shares of BA traded down $3.04 during trading hours on Friday, hitting $216.95. The company had a trading volume of 6,979,933 shares, compared to its average volume of 8,214,540. The stock's 50 day moving average price is $228.76 and its 200 day moving average price is $198.95. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The firm has a market cap of $164.05 billion, a P/E ratio of -13.13 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly 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 during the quarter, compared to analyst estimates of $20.13 billion. During the same quarter in the prior year, the business earned ($2.90) earnings per share. Boeing's revenue for the quarter was up 34.9% on a year-over-year basis. On average, research analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BA. Citigroup reaffirmed a "buy" rating on shares of Boeing in a research note on Monday, July 28th. The Goldman Sachs Group set a $212.00 price objective on shares of Boeing and gave the stock a "buy" rating in a report on Thursday, June 12th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. Susquehanna raised their price target on Boeing from $265.00 to $270.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. Finally, Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Boeing presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.77.

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.