Promethium Advisors LLC Acquires 2,950 Shares of The Boeing Company $BA

Key Points

• Promethium Advisors LLC significantly increased its stake in Boeing by 178.2% during Q1, holding 4,605 shares valued at approximately $785,000.
• Analysts are showing positive sentiment towards Boeing, with Barclays and JPMorgan both raising their price targets, indicating a consensus rating of "Moderate Buy."
• Boeing's recent earnings report showed a revenue increase of 34.9% year-over-year, despite missing EPS estimates, reflecting a resilient business performance.

Promethium Advisors LLC increased its holdings in The Boeing Company (NYSE:BA - Free Report) by 178.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,605 shares of the aircraft producer's stock after purchasing an additional 2,950 shares during the period. Promethium Advisors LLC's holdings in Boeing were worth $785,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after purchasing an additional 1,212,327 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock worth $715,979,000 after purchasing an additional 19,615 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Boeing during the 4th quarter worth about $568,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Boeing by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer's stock worth $502,933,000 after buying an additional 369,306 shares during the period. Finally, Zimmer Partners LP bought a new stake in shares of Boeing during the 4th quarter worth about $393,736,000. 64.82% of the stock is owned by institutional investors.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the business'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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares of the company's stock, valued at $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

BA has been the subject of a number of recent research reports. Citigroup reissued a "buy" rating on shares of Boeing in a report on Monday, July 28th. TD Securities downgraded shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Royal Bank Of Canada restated an "outperform" rating and issued a $250.00 price target on shares of Boeing in a research report on Wednesday, July 30th. Finally, Barclays increased their price objective on shares of Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $228.90.

Boeing Stock Down 0.6%

NYSE BA traded down $1.35 during trading hours on Friday, reaching $229.40. 8,198,359 shares of the company were exchanged, compared to its average volume of 5,748,445. The stock has a market capitalization of $173.46 billion, a P/E ratio of -13.89 and a beta of 1.48. The business's 50 day simple moving average is $227.54 and its 200-day simple moving average is $197.69. The Boeing Company has a 1 year low of $128.88 and a 1 year 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 firm had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. The firm's quarterly revenue was up 34.9% on a year-over-year basis. During the same period last year, the firm earned ($2.90) EPS. As a group, sell-side analysts anticipate 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.