Valley National Advisers Inc. Buys 2,254 Shares of The Boeing Company $BA

Key Points

• Valley National Advisers Inc. increased its holdings in The Boeing Company by 130.3% in Q2, acquiring an additional 2,254 shares to bring its total to 3,984 shares, valued at $834,000.
• According to recent analyst ratings, Boeing has an average rating of "Moderate Buy" with a price target of $233.91, while ratings vary from Strong Buy to Sell.
• Boeing reported a revenue of $22.75 billion for the last quarter, surpassing expectations, although the earnings per share were lower than anticipated at ($1.24).

Valley National Advisers Inc. raised its holdings in The Boeing Company (NYSE:BA - Free Report) by 130.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,984 shares of the aircraft producer's stock after purchasing an additional 2,254 shares during the period. Valley National Advisers Inc.'s holdings in Boeing were worth $834,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Revolve Wealth Partners LLC purchased a new position in shares of Boeing during the fourth quarter valued at about $201,000. Hennion & Walsh Asset Management Inc. raised its stake in Boeing by 17.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,188 shares of the aircraft producer's stock valued at $885,000 after buying an additional 769 shares during the last quarter. Vest Financial LLC boosted its position in Boeing by 73.5% in the first quarter. Vest Financial LLC now owns 11,275 shares of the aircraft producer's stock worth $1,923,000 after purchasing an additional 4,777 shares during the last quarter. Pines Wealth Management LLC bought a new stake in Boeing during the first quarter valued at about $248,000. Finally, Impact Capital Partners LLC purchased a new position in shares of Boeing during the 1st quarter valued at $213,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BA shares. Weiss Ratings restated a "sell (d-)" rating on shares of Boeing in a research report on Saturday, September 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. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and increased their price target for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Boeing currently has an average rating of "Moderate Buy" and an average target price of $233.91.

Boeing Price Performance

Shares of BA stock opened at $216.32 on Monday. The firm has a market cap of $163.57 billion, a PE ratio of -13.10 and a beta of 1.47. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The company has a 50-day moving average of $225.06 and a two-hundred day moving average of $205.21.

Boeing (NYSE:BA - Get Free Report) last issued 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 company had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. The firm's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the business posted ($2.90) earnings per share. Sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total value 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 $8,248,637.62. This represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the acquisition, the director directly owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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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