Strong Tower Advisory Services Grows Stake in The Boeing Company $BA

Key Points

• Strong Tower Advisory Services increased its stake in The Boeing Company by 4.0% during the second quarter, owning 40,568 shares now valued at approximately $8.5 million, which accounts for 1.7% of their portfolio.
• Boeing's stock underwent a slight decline of 2.3% recently, with a share price opening at $211.04 and a 52-week range between $128.88 and $242.69.
• Wall Street analysts have mixed ratings on Boeing, with the consensus being a "Moderate Buy", and target prices ranging from $233.91 to $282.00.

Strong Tower Advisory Services raised its stake in The Boeing Company (NYSE:BA - Free Report) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,568 shares of the aircraft producer's stock after acquiring an additional 1,553 shares during the period. Boeing makes up 1.7% of Strong Tower Advisory Services' portfolio, making the stock its 16th biggest position. Strong Tower Advisory Services' holdings in Boeing were worth $8,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Aspire Capital Advisors LLC boosted its position in shares of Boeing by 0.8% during the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer's stock valued at $1,245,000 after buying an additional 45 shares during the last quarter. Lantz Financial LLC boosted its position in shares of Boeing by 1.5% during the second quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer's stock valued at $644,000 after buying an additional 46 shares during the last quarter. Atlas Brown Inc. boosted its position in shares of Boeing by 0.7% during the second quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock valued at $1,362,000 after buying an additional 48 shares during the last quarter. Moody National Bank Trust Division boosted its position in shares of Boeing by 2.7% during the second quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer's stock valued at $385,000 after buying an additional 48 shares during the last quarter. Finally, Heck Capital Advisors LLC boosted its position in shares of Boeing by 3.6% during the second quarter. Heck Capital Advisors LLC now owns 1,398 shares of the aircraft producer's stock valued at $293,000 after buying an additional 49 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BA shares. Morgan Stanley reaffirmed an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Susquehanna reissued a "positive" rating and issued a $270.00 target price on shares of Boeing in a report on Monday, September 15th. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price on the stock in a report on Friday, June 27th. Sanford C. Bernstein increased their target price on Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a report on Thursday, October 2nd. Finally, Vertical Research raised Boeing from a "hold" rating to a "buy" rating and increased their target price for the company from $242.00 to $270.00 in a report on Monday, September 8th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $233.91.

Insider Activity

In related news, Director Mortimer J. Buckley acquired 2,200 shares of the firm'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 purchase, the director directly owned 2,200 shares of the company's stock, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Boeing Stock Down 2.3%

NYSE BA opened at $211.04 on Friday. The stock's 50-day moving average price is $224.29 and its 200-day moving average price is $206.19. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The company has a market capitalization of $159.58 billion, a P/E ratio of -12.78 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter in the prior year, the business earned ($2.90) earnings per share. The firm's revenue for the quarter was up 34.9% on a year-over-year basis. Research analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

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.

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