The Boeing Company $BA Shares Acquired by West Branch Capital LLC

Key Points

• West Branch Capital LLC increased its stake in Boeing by 300% during Q2, acquiring an additional 3,000 shares, bringing its total to 4,000 shares valued at approximately $838,000.
• Analysts have upgraded Boeing’s stock rating to "strong buy", with target prices ranging from $250 to $275, reflecting a positive outlook amid recent performance trends.
• Boeing reported a revenue of $22.75 billion for the last quarter, surpassing analysts' expectations, although it posted a loss of ($1.24) EPS, missing estimates by ($0.32).

West Branch Capital LLC increased its position in shares of The Boeing Company (NYSE:BA - Free Report) by 300.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,000 shares of the aircraft producer's stock after acquiring an additional 3,000 shares during the quarter. West Branch Capital LLC's holdings in Boeing were worth $838,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in 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 acquiring an additional 1,212,327 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Boeing by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock worth $715,979,000 after acquiring an additional 19,615 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Boeing by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer's stock worth $500,247,000 after acquiring an additional 91,707 shares during the last quarter. Swiss National Bank boosted its position in Boeing by 2.5% during the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer's stock worth $359,895,000 after acquiring an additional 51,700 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Boeing by 3.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer's stock worth $335,770,000 after acquiring an additional 69,560 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction 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 transaction, the executive vice president owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director owned 2,200 shares in the company, valued at approximately $497,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BA shares. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and raised their target price for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 price target on shares of Boeing in a report on Wednesday, July 30th. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target on the stock in a report on Friday, June 27th. Susquehanna reiterated a "positive" rating and issued a $270.00 price target on shares of Boeing in a report on Monday, September 15th. Finally, Bank of America lifted their price target on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Three research 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $230.77.

Boeing Trading Up 3.6%

Shares of BA stock opened at $221.28 on Friday. The company's fifty day simple moving average is $226.53 and its 200-day simple moving average is $202.84. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The company has a market cap of $167.32 billion, a PE ratio of -13.40 and a beta of 1.48.

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