Townsend & Associates Inc Makes New $219,000 Investment in The Boeing Company (NYSE:BA)

Townsend & Associates Inc acquired a new stake in The Boeing Company (NYSE:BA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,377 shares of the aircraft producer's stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American National Bank & Trust boosted its holdings in Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after purchasing an additional 128 shares in the last quarter. REAP Financial Group LLC grew its position in shares of Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after buying an additional 65 shares during the last quarter. Dogwood Wealth Management LLC raised its stake in Boeing by 167.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after acquiring an additional 112 shares in the last quarter. Solstein Capital LLC purchased a new stake in Boeing in the fourth quarter valued at $33,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Boeing during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president directly owned 42,513 shares in the company, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction of $650,198.35. Following the completion of the sale, the executive vice president owned 20,513 shares of the company's stock, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock worth $1,511,370 in the last quarter. 0.09% of the stock is owned by corporate insiders.

Boeing Price Performance

Shares of NYSE BA traded up $1.04 during trading hours on Wednesday, hitting $210.83. 4,232,692 shares of the stock were exchanged, compared to its average volume of 8,733,571. The Boeing Company has a one year low of $128.88 and a one year high of $218.80. The company's 50 day moving average is $199.80 and its 200 day moving average is $180.55. The firm has a market capitalization of $158.97 billion, a P/E ratio of -11.77 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same period last year, the firm posted ($1.13) EPS. The company's revenue was up 17.7% compared to the same quarter last year. Research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on BA. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Sanford C. Bernstein raised shares of Boeing from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $181.00 to $218.00 in a research note on Monday, April 28th. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and increased their price objective for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Morgan Stanley set a $200.00 price target on Boeing and gave the stock an "equal weight" rating in a research note on Thursday, June 12th. Finally, Wall Street Zen downgraded Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.77.

Boeing Company 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.