The Boeing Company $BA Shares Acquired by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC increased its holdings in Boeing shares by 72.0%, owning a total of 12,654 shares worth approximately $2.65 million as of its latest SEC filing.
• Boeing's quarterly earnings report showed a loss of $1.24 per share, missing expectations, but revenues rose to $22.75 billion, exceeding forecasts.
• Multiple analysts have raised their price targets for Boeing, with forecasts ranging up to $282.00, reflecting a positive outlook for the stock post-earnings.

Simplicity Wealth LLC raised its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 72.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,654 shares of the aircraft producer's stock after acquiring an additional 5,297 shares during the period. Simplicity Wealth LLC's holdings in Boeing were worth $2,651,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Piscataqua Savings Bank raised its stake in shares of Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after buying an additional 137 shares in the last quarter. Proathlete Wealth Management LLC acquired a new position in Boeing during the first quarter worth about $34,000. Monetary Management Group Inc. lifted its holdings in Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after acquiring an additional 50 shares during the last quarter. Columbia River Financial Group LLC bought a new position in shares of Boeing during the 1st quarter valued at about $50,000. Finally, Iron Horse Wealth Management LLC grew its stake in shares of Boeing by 33.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer's stock worth $51,000 after purchasing an additional 75 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

NYSE BA opened at $216.32 on Monday. The firm has a market capitalization of $163.57 billion, a price-to-earnings ratio of -13.10 and a beta of 1.47. The company has a 50 day simple moving average of $225.06 and a 200-day simple moving average of $205.21. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

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

Analysts Set New Price Targets

Several research firms recently commented on BA. Sanford C. Bernstein increased their target price on shares of Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a research note on Thursday. Susquehanna reiterated a "positive" rating and set a $270.00 price objective on shares of Boeing in a research report on Monday, September 15th. Jefferies Financial Group set a $255.00 target price on Boeing in a report on Tuesday, September 30th. UBS Group set a $280.00 target price on Boeing and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $233.91.

Insiders Place Their Bets

In other news, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares in the company, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was 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 of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

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.

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