The Boeing Company $BA Shares Bought by Mengis Capital Management Inc.

Key Points

• Mengis Capital Management Inc. increased its holdings in Boeing by 44.8% during the 2nd quarter, owning 18,445 shares valued at approximately $3.87 million.
• Institutional investors now own 64.82% of Boeing's stock, with several funds significantly boosting their stakes recently, including Piscataqua Savings Bank, which increased its stake by 1,712.5%.
• Analysts have a consensus rating of "Moderate Buy" for Boeing, with price targets ranging up to $255.00, while one rating is a "sell (d-)" according to Weiss Ratings.

Mengis Capital Management Inc. boosted its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 44.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,445 shares of the aircraft producer's stock after acquiring an additional 5,706 shares during the quarter. Mengis Capital Management Inc.'s holdings in Boeing were worth $3,865,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BA. Piscataqua Savings Bank increased its stake in Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after acquiring an additional 137 shares during the last quarter. Proathlete Wealth Management LLC acquired a new stake in Boeing during the first quarter worth $34,000. Monetary Management Group Inc. increased its stake in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after acquiring an additional 50 shares during the last quarter. Columbia River Financial Group LLC acquired a new stake in Boeing during the first quarter worth $50,000. Finally, Iron Horse Wealth Management LLC increased its stake in Boeing by 33.8% during the first quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer's stock worth $51,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank Of Canada restated an "outperform" rating and set a $250.00 price target on shares of Boeing in a research report on Monday, September 29th. Citigroup restated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Jefferies Financial Group set a $255.00 price target on Boeing in a research report on Tuesday, September 30th. JPMorgan Chase & Co. raised their price target on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Boeing in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Boeing has a consensus rating of "Moderate Buy" and a consensus target price of $233.91.

Insider Transactions at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction dated Friday, August 8th. The stock was 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. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the business's stock in a transaction dated 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 directly owned 2,200 shares of the company's stock, valued at approximately $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.

Boeing Price Performance

Shares of NYSE BA opened at $216.48 on Friday. The business has a 50-day moving average of $224.51 and a two-hundred day moving average of $205.99. 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 $163.69 billion, a price-to-earnings ratio of -13.11 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $20.13 billion. During the same quarter in the prior year, the business earned ($2.90) EPS. The business's quarterly revenue was up 34.9% on a year-over-year basis. As a group, equities research analysts expect 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.

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