The Boeing Company $BA Stake Raised by Steigerwald Gordon & Koch Inc.

Key Points

• Steigerwald Gordon & Koch Inc. increased its stake in Boeing by 3.7% in the second quarter, holding a total of 33,815 shares valued at approximately $7.1 million.
• Boeing reported a quarterly loss of ($1.24) earnings per share, missing analysts' estimates, despite a 34.9% year-over-year increase in revenue to $22.75 billion.
• Boeing's stock is currently down 1.6%, and analysts have a consensus rating of "Moderate Buy" with an average price target of $230.77.

Steigerwald Gordon & Koch Inc. boosted its position in The Boeing Company (NYSE:BA - Free Report) by 3.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,815 shares of the aircraft producer's stock after purchasing an additional 1,213 shares during the period. Steigerwald Gordon & Koch Inc.'s holdings in Boeing were worth $7,085,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BA. Kingstone Capital Partners Texas LLC acquired a new stake in Boeing in the second quarter worth approximately $378,459,000. Vanguard Group Inc. lifted its position in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after purchasing an additional 1,212,327 shares during the period. GAMMA Investing LLC lifted its position in Boeing by 19,333.1% in the first quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer's stock worth $170,190,000 after purchasing an additional 992,753 shares during the period. Strs Ohio acquired a new stake in Boeing in the first quarter worth approximately $98,984,000. Finally, Canada Pension Plan Investment Board lifted its position in Boeing by 243.8% in the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock worth $128,689,000 after purchasing an additional 535,060 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Down 1.6%

Shares of NYSE:BA opened at $212.26 on Tuesday. The company's fifty day moving average is $227.61 and its two-hundred day moving average is $201.73. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The company has a market cap of $160.50 billion, a P/E ratio of -12.86 and a beta of 1.48.

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

Insider Buying and Selling at Boeing

In other news, Director Mortimer J. Buckley bought 2,200 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup restated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Rothschild & Co Redburn raised 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. JPMorgan Chase & Co. upped their price target on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $250.00 price target on shares of Boeing in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group set a $212.00 price target on Boeing and gave the company a "buy" rating in a report on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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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