Truist Financial Corp Purchases 28,373 Shares of The Boeing Company $BA

Key Points

• Truist Financial Corp increased its stake in The Boeing Company by 9.7%, acquiring an additional 28,373 shares, bringing its total holdings to 319,768 shares valued at approximately $67 million.
• Insider transactions at Boeing included David Christopher Raymond selling 3,771 shares and Mortimer J. Buckley purchasing 2,200 shares, indicating varied confidence levels among executive personnel.
• Boeing's stock price opened at $215.24, with recent brokerage evaluations giving it an average rating of "Moderate Buy" and a consensus target price of $231.00.

Truist Financial Corp lifted its position in shares of The Boeing Company (NYSE:BA - Free Report) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 319,768 shares of the aircraft producer's stock after acquiring an additional 28,373 shares during the period. Truist Financial Corp's holdings in Boeing were worth $67,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vestcor Inc boosted its holdings in Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock worth $2,471,000 after purchasing an additional 1,195 shares during the last quarter. National Pension Service boosted its holdings in Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock worth $227,365,000 after purchasing an additional 218,049 shares during the last quarter. Wynn Capital LLC purchased a new stake in Boeing in the first quarter worth approximately $584,000. MFG Wealth Management Inc. purchased a new stake in Boeing in the first quarter worth approximately $2,125,000. Finally, Kelman Lazarov Inc. purchased a new stake in Boeing in the first quarter worth approximately $262,000. Institutional investors own 64.82% of the company's stock.

Insider Transactions at Boeing

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

Boeing Stock Down 0.3%

Boeing stock opened at $215.24 on Thursday. The company's 50-day moving average price is $225.67 and its 200-day moving average price is $204.00. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The company has a market cap of $162.75 billion, a PE ratio of -13.04 and a beta of 1.47.

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 analysts' consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter in the previous year, the business posted ($2.90) EPS. The firm's revenue was up 34.9% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on BA. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target on the stock in a research note on Friday, June 27th. 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. Barclays lifted their price target on shares of Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Finally, Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and a consensus target price of $231.00.

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.

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