The Boeing Company $BA Shares Purchased by Fifth Third Wealth Advisors LLC

Key Points

• Fifth Third Wealth Advisors LLC increased its holdings in Boeing by 41.8% in the second quarter, owning a total of 14,114 shares valued at approximately $2.95 million.
• Multiple analysts upgraded their ratings on Boeing, with Redburn Atlantic raising its price target from $180 to $275 and others following suit with positive ratings.
• Boeing reported a quarterly loss of ($1.24) EPS, which was worse than analysts' estimates, but its revenue increased by 34.9% year-over-year, reaching $22.75 billion.

Fifth Third Wealth Advisors LLC boosted its holdings in The Boeing Company (NYSE:BA - Free Report) by 41.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,114 shares of the aircraft producer's stock after purchasing an additional 4,161 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Boeing were worth $2,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BA. Revolve Wealth Partners LLC purchased a new stake in Boeing during the fourth quarter valued at about $201,000. Pallas Capital Advisors LLC lifted its stake in shares of Boeing by 12.2% in the first quarter. Pallas Capital Advisors LLC now owns 2,456 shares of the aircraft producer's stock worth $419,000 after acquiring an additional 267 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Boeing by 13.9% in the first quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer's stock worth $998,000 after acquiring an additional 716 shares in the last quarter. Simon Quick Advisors LLC lifted its stake in shares of Boeing by 34.5% in the first quarter. Simon Quick Advisors LLC now owns 5,546 shares of the aircraft producer's stock worth $946,000 after acquiring an additional 1,422 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new stake in Boeing in the first quarter valued at about $148,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and boosted their price objective for the company from $180.00 to $275.00 in a report on Friday, June 27th. Citigroup reissued a "buy" rating on shares of Boeing in a report on Monday, July 28th. UBS Group set a $280.00 price objective on Boeing and gave the stock a "buy" rating in a report on Wednesday, July 30th. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective for the company in a report on Friday, June 27th. Finally, Barclays upped their target price on 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, eighteen have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $233.91.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the transaction, the director directly 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 currently owned by corporate insiders.

Boeing Stock Performance

Shares of NYSE:BA opened at $211.04 on Friday. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The stock has a fifty day moving average of $224.29 and a 200-day moving average of $206.19. The company has a market capitalization of $159.58 billion, a PE ratio of -12.78 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $20.13 billion. During the same period in the previous year, the business earned ($2.90) EPS. The business's revenue was up 34.9% on a year-over-year basis. As a group, research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

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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