Sonata Capital Group Inc. Makes New Investment in The Boeing Company $BA

Key Points

• Sonata Capital Group Inc. made a new investment in Boeing, acquiring 1,167 shares valued at approximately $245,000 during the second quarter.
• Boeing's recent earnings report showed a revenue of $22.75 billion, significantly higher than analysts' expectations, though it missed earnings per share estimates by $0.32.
• Institutional investors own 64.82% of Boeing's stock, and recent transactions included several significant changes in positions among various investors during the second quarter.

Sonata Capital Group Inc. bought a new position in shares of The Boeing Company (NYSE:BA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,167 shares of the aircraft producer's stock, valued at approximately $245,000.

Several other institutional investors have also recently made changes to their positions in BA. Harbor Asset Planning Inc. purchased a new stake in shares of Boeing during the second quarter worth $25,000. Piscataqua Savings Bank lifted 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 in the last quarter. Monetary Management Group Inc. lifted 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 in the last quarter. IMG Wealth Management Inc. lifted its position in shares of Boeing by 159.4% during the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer's stock worth $38,000 after acquiring an additional 110 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new stake in shares of Boeing during the second quarter worth $41,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Trading Down 0.3%

Shares of NYSE:BA opened at $216.55 on Thursday. The stock's 50-day moving average price is $222.28 and its 200-day moving average price is $208.91. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The stock has a market capitalization of $163.75 billion, a P/E ratio of -13.12 and a beta of 1.47.

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 analysts' consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.90) EPS. As a group, research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of the 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company's stock, valued at $497,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BA. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Boeing in a report on Wednesday, October 8th. UBS Group set a $280.00 price target on shares of Boeing and gave the stock a "buy" rating in a report on Wednesday, July 30th. Sanford C. Bernstein upped their price target on shares of Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a report on Thursday, October 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $250.00 price target on shares of Boeing in a report on Monday, September 29th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $270.00 price target on shares of Boeing in a report on Monday, September 15th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Boeing has an average rating of "Moderate Buy" and a consensus target price of $240.20.

Boeing 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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