The Boeing Company $BA Shares Bought by Victrix Investment Advisors

Key Points

• Victrix Investment Advisors increased its stake in Boeing by 24.9% in Q2, now holding 21,573 shares worth approximately $4.52 million, making Boeing the 16th largest holding in their portfolio.
• Boeing's stock has faced challenges, recently reporting a loss of ($1.24) EPS, missing expectations, although revenue for the quarter increased by 34.9% year-over-year to $22.75 billion.
• A number of analysts have issued upgrades for Boeing, with a consensus rating of "Moderate Buy" and an average target price of $231.00, indicating potential growth ahead for the company.

Victrix Investment Advisors grew its stake in The Boeing Company (NYSE:BA - Free Report) by 24.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,573 shares of the aircraft producer's stock after buying an additional 4,305 shares during the quarter. Boeing accounts for about 2.0% of Victrix Investment Advisors' portfolio, making the stock its 16th largest holding. Victrix Investment Advisors' holdings in Boeing were worth $4,520,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of BA. Institute for Wealth Management LLC. lifted its holdings in Boeing by 3.1% in the second quarter. Institute for Wealth Management LLC. now owns 20,792 shares of the aircraft producer's stock valued at $4,356,000 after acquiring an additional 625 shares during the period. PBMares Wealth Management LLC increased its holdings in shares of Boeing by 4.2% during the 2nd quarter. PBMares Wealth Management LLC now owns 1,723 shares of the aircraft producer's stock valued at $361,000 after purchasing an additional 70 shares in the last quarter. Sicart Associates LLC acquired a new position in shares of Boeing in the 2nd quarter valued at $239,000. Truist Financial Corp lifted its stake in shares of Boeing by 9.7% in the 2nd quarter. Truist Financial Corp now owns 319,768 shares of the aircraft producer's stock valued at $67,001,000 after purchasing an additional 28,373 shares during the period. Finally, Broadway Wealth Solutions Inc. purchased a new stake in Boeing during the second quarter worth $203,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Stock Down 0.6%

NYSE BA opened at $215.88 on Wednesday. The business's fifty day simple moving average is $226.04 and its 200-day simple moving average is $203.92. The firm has a market cap of $163.24 billion, a PE ratio of -13.08 and a beta of 1.48. 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 announced its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. During the same period in the prior year, the company earned ($2.90) earnings per share. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. Research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BA shares. Susquehanna reaffirmed a "positive" rating and issued a $270.00 price objective on shares of Boeing in a report on Monday, September 15th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Royal Bank Of Canada reissued an "outperform" rating and issued a $250.00 price objective on shares of Boeing in a report on Monday. Finally, Citigroup reaffirmed a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $231.00.

Insider Buying and Selling

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

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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