WoodTrust Financial Corp Buys 7,206 Shares of The Boeing Company $BA

Key Points

• WoodTrust Financial Corp increased its stake in Boeing by 503.6% during the second quarter, purchasing an additional 7,206 shares for a total of 8,637 shares valued at approximately $1.8 million.
• Several institutional investors have also adjusted their holdings in Boeing, with 64.82% of the stock being owned by such entities.
• Boeing's stock price target was recently increased by Bank of America from $260 to $270, backed by multiple analysts giving it a "strong buy" rating.

WoodTrust Financial Corp grew its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 503.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,637 shares of the aircraft producer's stock after buying an additional 7,206 shares during the quarter. WoodTrust Financial Corp's holdings in Boeing were worth $1,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BA. Revolve Wealth Partners LLC bought a new stake in shares of Boeing in the fourth quarter worth about $201,000. OLD National Bancorp IN grew its stake in shares of Boeing by 7.0% in the first quarter. OLD National Bancorp IN now owns 6,932 shares of the aircraft producer's stock worth $1,182,000 after purchasing an additional 454 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Boeing by 16.0% in the first quarter. Park Avenue Securities LLC now owns 13,319 shares of the aircraft producer's stock worth $2,272,000 after purchasing an additional 1,833 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Boeing by 44.6% in the first quarter. Farther Finance Advisors LLC now owns 10,803 shares of the aircraft producer's stock worth $1,817,000 after purchasing an additional 3,330 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its stake in shares of Boeing by 12.2% in the first quarter. Pallas Capital Advisors LLC now owns 2,456 shares of the aircraft producer's stock worth $419,000 after purchasing an additional 267 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Insider Activity at Boeing

In other news, 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 completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade 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 accessible through the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction that occurred on 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 acquisition, the director owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BA has been the topic of several recent analyst reports. Bank of America raised their target price on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and raised their price objective for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. Finally, Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a report on Tuesday, September 30th. Three research 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $233.91.

Boeing Stock Performance

BA stock opened at $221.82 on Wednesday. The firm has a 50 day moving average price of $224.63 and a 200-day moving average price of $205.61. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The firm has a market capitalization of $167.73 billion, a price-to-earnings ratio of -13.44 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) 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 last year, the firm earned ($2.90) EPS. The business's revenue was up 34.9% on a year-over-year basis. As a group, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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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