Sonora Investment Management Group LLC Grows Holdings in The Boeing Company $BA

Key Points

• Sonora Investment Management Group LLC has increased its holdings in Boeing by 55.3% during the second quarter, acquiring an additional 3,177 shares and bringing its total ownership to 8,923 shares valued at approximately $1.87 million.
• Other institutional investors, including Vestcor Inc and National Pension Service, have also increased their stakes in Boeing, with 64.82% of the company's stock now owned by hedge funds and institutional investors.
• Analysts have raised their price targets for Boeing, with Rothschild & Co Redburn setting a target of $275.00, and UBS Group suggesting a target of $280.00, indicating a generally optimistic outlook for the company's stock.

Sonora Investment Management Group LLC increased its position in The Boeing Company (NYSE:BA - Free Report) by 55.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,923 shares of the aircraft producer's stock after acquiring an additional 3,177 shares during the quarter. Sonora Investment Management Group LLC's holdings in Boeing were worth $1,870,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vestcor Inc lifted its position 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 buying an additional 1,195 shares during the last quarter. National Pension Service grew its stake in Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock valued at $227,365,000 after purchasing an additional 218,049 shares during the last quarter. Wynn Capital LLC purchased a new position in Boeing in the first quarter valued at about $584,000. MFG Wealth Management Inc. acquired a new stake in Boeing in the first quarter worth about $2,125,000. Finally, Kelman Lazarov Inc. acquired a new stake in Boeing in the first quarter worth about $262,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on 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 owned 35,873 shares of the company's stock, valued at approximately $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 accessible through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, for a total transaction 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 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 company insiders.

Analysts Set New Price Targets

BA has been the subject of a number of research reports. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price for the company in a report on Friday, June 27th. Vertical Research raised Boeing from a "hold" rating to a "buy" rating and upped their price target for the company from $242.00 to $270.00 in a research note on Monday, September 8th. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 price objective on shares of Boeing in a report on Wednesday, July 30th. Finally, UBS Group set a $280.00 target price on Boeing and gave the company a "buy" rating in a research report on Wednesday, July 30th. Three 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $230.77.

Boeing Trading Up 3.6%

NYSE BA opened at $221.28 on Friday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The company has a market capitalization of $167.32 billion, a PE ratio of -13.40 and a beta of 1.48. The firm's fifty day simple moving average is $226.53 and its 200-day simple moving average is $203.15.

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

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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