Thoroughbred Financial Services LLC Raises Position in The Boeing Company (NYSE:BA)

Key Points

• Thoroughbred Financial Services LLC increased its stake in Boeing by 61.5% during the first quarter, bringing its total holdings to approximately $2.01 million in valuation.
• Institutional investors collectively own 64.82% of Boeing's stock, indicating strong institutional interest along with multiple hedge funds increasing their positions significantly.
• Boeing's recent earnings report showed a revenue of $22.75 billion, surpassing analyst expectations, although it posted a greater earnings loss than anticipated at ($1.24) per share.

Thoroughbred Financial Services LLC increased its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 61.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 11,811 shares of the aircraft producer's stock after purchasing an additional 4,499 shares during the period. Thoroughbred Financial Services LLC's holdings in Boeing were worth $2,014,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. American National Bank & Trust increased its stake in shares of Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after buying an additional 128 shares during the period. REAP Financial Group LLC grew its holdings in Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after acquiring an additional 65 shares in the last quarter. Dogwood Wealth Management LLC increased its position in shares of Boeing by 167.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 112 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Boeing in the 4th quarter valued at $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Boeing by 122.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 191 shares of the aircraft producer's stock valued at $34,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Trading Up 1.0%

Shares of NYSE:BA traded up $2.28 during midday trading on Thursday, hitting $227.32. The stock had a trading volume of 4,538,661 shares, compared to its average volume of 7,421,608. The stock has a 50 day moving average price of $216.56 and a two-hundred day moving average price of $189.82. The company has a market capitalization of $171.89 billion, a PE ratio of -13.77 and a beta of 1.48. The Boeing Company has a 1 year low of $128.88 and a 1 year 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 business had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. The business's revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the business earned ($2.90) earnings per share. As a group, equities analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the sale, the senior vice president directly owned 13,258 shares in the company, valued at $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the transaction, the executive vice president owned 20,513 shares of the company's stock, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

BA has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. JPMorgan Chase & Co. increased their price target on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective on the stock in a report on Friday, June 27th. Three analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Boeing has an average rating of "Moderate Buy" and an average price target of $228.90.

About Boeing

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.