Turtle Creek Wealth Advisors LLC Takes $1.71 Million Position in The Boeing Company $BA

Key Points

• Turtle Creek Wealth Advisors LLC has acquired a new stake in The Boeing Company valued at approximately $1.71 million, acquiring 8,139 shares during the second quarter.
• Boeing reported a quarterly loss of ($1.24) earnings per share, missing consensus estimates, but its revenue increased by 34.9% year-over-year to $22.75 billion.
• Several analysts have upgraded Boeing's stock ratings, with price targets ranging from $250 to $275, indicating bullish sentiment in the market.

Turtle Creek Wealth Advisors LLC acquired a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,139 shares of the aircraft producer's stock, valued at approximately $1,705,000.

A number of other institutional investors have also recently made changes to their positions in BA. WJ Wealth Management LLC purchased a new position in Boeing in the second quarter worth about $251,000. WealthPlan Investment Management LLC grew its position in Boeing by 21.9% in the second quarter. WealthPlan Investment Management LLC now owns 3,407 shares of the aircraft producer's stock worth $714,000 after acquiring an additional 613 shares in the last quarter. Alta Capital Management LLC grew its position in Boeing by 14.5% in the second quarter. Alta Capital Management LLC now owns 3,940 shares of the aircraft producer's stock worth $826,000 after acquiring an additional 500 shares in the last quarter. Patten & Patten Inc. TN grew its position in Boeing by 22.9% in the second quarter. Patten & Patten Inc. TN now owns 30,778 shares of the aircraft producer's stock worth $6,449,000 after acquiring an additional 5,730 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in Boeing by 0.9% in the second quarter. New York State Teachers Retirement System now owns 561,566 shares of the aircraft producer's stock worth $117,665,000 after acquiring an additional 5,153 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Price Performance

Shares of NYSE:BA opened at $214.08 on Thursday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The business has a 50 day simple moving average of $223.73 and a two-hundred day simple moving average of $206.97. The firm has a market capitalization of $161.88 billion, a PE ratio of -12.97 and a beta of 1.47.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays lifted their price target on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 price target on shares of Boeing in a research report on Monday, September 29th. JPMorgan Chase & Co. lifted their price target on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price for the company in a research report on Friday, June 27th. Finally, Susquehanna restated a "positive" rating and set a $270.00 target price on shares of Boeing in a research report on Monday, September 15th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and an average price target of $240.20.

Insider Activity at Boeing

In related news, Director Mortimer J. Buckley purchased 2,200 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price 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 of the company's stock, valued at approximately $497,420. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred 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 of the company's stock, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

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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