Sequoia Financial Advisors LLC Raises Stock Position in The Boeing Company $BA

Key Points

• Sequoia Financial Advisors LLC has raised its stake in The Boeing Company by 14.5%, acquiring an additional 4,847 shares, bringing its total holdings to 38,283 shares valued at approximately $8,021,000.
• Several institutional investors have increased their positions in Boeing, with National Pension Service raising its holdings by 19.6% and Vestcor Inc by 9.0%.
• Boeing's stock currently holds a Moderate Buy average rating with research analysts setting a price target range, with some forecasts reaching up to $270.00.

Sequoia Financial Advisors LLC increased its stake in The Boeing Company (NYSE:BA - Free Report) by 14.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,283 shares of the aircraft producer's stock after purchasing an additional 4,847 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Boeing were worth $8,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vestcor Inc boosted its holdings in Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock worth $2,471,000 after purchasing an additional 1,195 shares during the last quarter. National Pension Service raised its position 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 acquiring an additional 218,049 shares during the period. MFG Wealth Management Inc. bought a new position in Boeing in the first quarter worth approximately $2,125,000. McElhenny Sheffield Capital Management LLC bought a new position in Boeing in the second quarter worth approximately $62,859,000. Finally, Kelman Lazarov Inc. bought a new position in Boeing in the first quarter worth approximately $262,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insiders Place Their Bets

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director directly owned 2,200 shares of the company's stock, valued at approximately $497,420. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing 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 directly owned 35,873 shares of the company's stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup reiterated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Jefferies Financial Group set a $255.00 price target on shares of Boeing in a research report on Tuesday, September 30th. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Vertical Research upgraded shares of Boeing from a "hold" rating to a "buy" rating and increased their price target for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Finally, JPMorgan Chase & Co. increased their price target 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. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $236.00.

Boeing Stock Performance

BA opened at $215.53 on Tuesday. The stock has a market capitalization of $162.98 billion, a price-to-earnings ratio of -13.05 and a beta of 1.47. The company has a fifty day moving average of $224.15 and a 200 day moving average of $206.87. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. The business's quarterly revenue was up 34.9% compared to the same quarter last year. During the same period last year, the firm earned ($2.90) earnings per share. On average, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

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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