The Boeing Company $BA Shares Acquired by Ascent Group LLC

Key Points

• Ascent Group LLC increased its stake in Boeing by 132.6% during the first quarter, owning a total of 6,097 shares worth approximately $1,040,000.
• Institutional investors and hedge funds now hold 64.82% of Boeing’s stock, indicating significant interest from financial institutions in the aerospace company.
• Despite reporting a loss of $1.24 earnings per share, Boeing's revenue increased by 34.9% year-over-year, reaching $22.75 billion, exceeding analysts' expectations.

Ascent Group LLC grew its holdings in The Boeing Company (NYSE:BA - Free Report) by 132.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,097 shares of the aircraft producer's stock after buying an additional 3,476 shares during the quarter. Ascent Group LLC's holdings in Boeing were worth $1,040,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Boeing by 3.8% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,545 shares of the aircraft producer's stock valued at $2,140,000 after buying an additional 455 shares during the period. Caxton Associates LLP acquired a new stake in shares of Boeing in the 1st quarter valued at approximately $1,413,000. First Dallas Securities Inc. lifted its holdings in shares of Boeing by 1.4% in the 1st quarter. First Dallas Securities Inc. now owns 15,676 shares of the aircraft producer's stock valued at $2,674,000 after buying an additional 210 shares during the period. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Boeing by 21.4% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 9,705 shares of the aircraft producer's stock valued at $1,655,000 after buying an additional 1,710 shares during the period. Finally, Sender Co & Partners Inc. lifted its holdings in shares of Boeing by 125.0% in the 1st quarter. Sender Co & Partners Inc. now owns 55,627 shares of the aircraft producer's stock valued at $9,487,000 after buying an additional 30,899 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, the director owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

BA has been the subject of several recent analyst reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $250.00 price target on shares of Boeing in a report on Wednesday, July 30th. UBS Group set a $280.00 price target on Boeing and gave the stock a "buy" rating in a report on Wednesday, July 30th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and upped their price target for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Finally, Bank of America upped their price target on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $230.77.

Boeing Price Performance

Shares of Boeing stock opened at $229.49 on Wednesday. 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 $173.53 billion, a P/E ratio of -13.90 and a beta of 1.48. The business has a 50 day moving average price of $228.35 and a 200 day moving average price of $198.48.

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