VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 35,900 The Boeing Company $BA

Key Points

• Virginia Retirement Systems acquired 35,900 shares of The Boeing Company, valued at approximately $7.52 million, in the second quarter.
• Boeing reported a quarterly EPS of ($1.24), missing estimates, but achieved a revenue of $22.75 billion, surpassing expectations by 34.9% year-over-year.
• Analysts have shown a positive trend for Boeing, with multiple upgrades and a target price increase, leading to an average rating of "Moderate Buy" and an average target price of $240.20.

VIRGINIA RETIREMENT SYSTEMS ET Al 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 filing with the SEC. The firm acquired 35,900 shares of the aircraft producer's stock, valued at approximately $7,522,000.

A number of other institutional investors have also modified their holdings of BA. Harbor Asset Planning Inc. acquired a new position in Boeing in the 2nd quarter worth about $25,000. Piscataqua Savings Bank raised its holdings in Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after purchasing an additional 137 shares during the period. Monetary Management Group Inc. raised its holdings in Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after purchasing an additional 50 shares during the period. Keener Financial Planning LLC acquired a new position in Boeing in the 2nd quarter worth about $41,000. Finally, Columbia River Financial Group LLC acquired a new position in Boeing in the 1st quarter worth about $50,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Trading Up 1.8%

NYSE:BA opened at $216.78 on Tuesday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock has a 50 day moving average of $222.92 and a two-hundred day moving average of $208.79. The firm has a market cap of $163.92 billion, a P/E ratio of -13.13 and a beta of 1.47.

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 the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to the consensus estimate 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 prior year, the business posted ($2.90) EPS. On average, research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

BA has been the subject of a number of analyst reports. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a report on Friday, June 27th. Sanford C. Bernstein upped their price target on Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a report on Thursday, October 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $250.00 price target on shares of Boeing in a report on Monday, September 29th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. Finally, Bank of America boosted their price objective on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $240.20.

Insider Buying and Selling

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

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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