The Boeing Company (NYSE:BA) Shares Bought by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its position in The Boeing Company by 17.5%, acquiring an additional 18,125 shares, bringing its total holdings to 121,788 shares valued at approximately $20.77 million.
• Several institutional investors, including American National Bank & Trust and Dogwood Wealth Management LLC, significantly increased their stakes in Boeing during the first quarter, indicating strong investor interest.
• Boeing's stock recently opened at $227.32, and despite a loss of $1.24 earnings per share, the company reported a revenue increase of 34.9% year-over-year, with a market cap of $171.89 billion.

Townsquare Capital LLC increased its holdings in The Boeing Company (NYSE:BA - Free Report) by 17.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,788 shares of the aircraft producer's stock after acquiring an additional 18,125 shares during the quarter. Townsquare Capital LLC's holdings in Boeing were worth $20,771,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American National Bank & Trust raised its position in Boeing by 474.1% during the 1st 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 last quarter. REAP Financial Group LLC increased its stake in shares of Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after acquiring an additional 65 shares during the period. Dogwood Wealth Management LLC increased its stake in shares of Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after acquiring an additional 112 shares during the period. Heck Capital Advisors LLC acquired a new stake in Boeing in the fourth quarter valued at about $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in Boeing by 122.1% in the fourth 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 during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Price Performance

Boeing stock traded up $1.75 during mid-day trading on Friday, hitting $229.08. 4,716,407 shares of the company were exchanged, compared to its average volume of 7,343,935. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The company has a market capitalization of $173.22 billion, a P/E ratio of -13.88 and a beta of 1.48. The business's 50 day simple moving average is $217.39 and its two-hundred day simple moving average is $190.57.

Boeing (NYSE:BA - Get Free Report) last posted 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 company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. The company's quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.90) EPS. Equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In related news, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 directly 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. Insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

BA has been the topic of several recent analyst reports. Citigroup reiterated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Barclays upped their price objective on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a report on Thursday, June 12th. UBS Group set a $280.00 price target on shares of Boeing and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and increased their price target for the company from $180.00 to $275.00 in a report on Friday, June 27th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and a consensus target price 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.