The Boeing Company $BA Shares Purchased by Waycross Partners LLC

Key Points

• Waycross Partners LLC increased its holdings in Boeing by 3.4% in the second quarter, now owning 187,335 shares valued at approximately $39.25 million.
• Boeing's recent earnings report showed a loss of ($1.24) EPS, which missed the consensus estimate by ($0.32), but the firm's revenue increased by 34.9% year-over-year.
• Analysts have varying opinions on Boeing, with three recommending a Strong Buy and others setting target prices between $212.00 and $280.00, reflecting a consensus rating of "Moderate Buy."

Waycross Partners LLC increased its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 3.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,335 shares of the aircraft producer's stock after purchasing an additional 6,215 shares during the quarter. Boeing accounts for approximately 3.7% of Waycross Partners LLC's portfolio, making the stock its 8th biggest position. Waycross Partners LLC's holdings in Boeing were worth $39,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Vanguard Group Inc. grew its position in Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Boeing by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock valued at $715,979,000 after acquiring an additional 19,615 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Boeing by 3.2% in the 1st 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 valued at $500,247,000 after acquiring an additional 91,707 shares in the last quarter. Swiss National Bank grew its position in Boeing by 2.5% in the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer's stock valued at $359,895,000 after acquiring an additional 51,700 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Boeing by 3.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer's stock valued at $335,770,000 after acquiring an additional 69,560 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Up 2.0%

BA stock opened at $216.30 on Wednesday. The business has a 50 day moving average price of $227.33 and a 200 day moving average price of $201.83. The stock has a market cap of $163.56 billion, a price-to-earnings ratio of -13.10 and a beta of 1.48. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results 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 company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. The firm's revenue was up 34.9% compared to the same quarter last year. During the same period last year, the firm posted ($2.90) EPS. As a group, sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction that occurred 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 $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 available through the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction 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 purchase, the director owned 2,200 shares of the company's stock, valued at $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 insiders.

Analysts Set New Price Targets

BA has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a research report on Thursday, June 12th. Bank of America lifted their target price on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Citigroup reiterated a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Finally, UBS Group set a $280.00 price objective on Boeing and gave the company a "buy" rating in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $230.77.

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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