WT Asset Management Ltd Takes $2.10 Million Position in The Boeing Company $BA

Key Points

• WT Asset Management Ltd acquired a new stake in Boeing, purchasing 10,000 shares valued at approximately $2.10 million, making Boeing the 27th largest holding in its portfolio.
• Boeing's stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $233.91, following several upgrades from multiple firms.
• The company reported a loss of $1.24 EPS in its recent quarterly earnings, missing expectations, although its revenue increased by 34.9% year-over-year.

WT Asset Management Ltd bought a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,000 shares of the aircraft producer's stock, valued at approximately $2,095,000. Boeing comprises approximately 0.1% of WT Asset Management Ltd's portfolio, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Vestcor Inc lifted its position 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 buying an additional 1,195 shares during the last quarter. National Pension Service lifted its position 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 buying an additional 218,049 shares during the last quarter. Wynn Capital LLC bought a new stake in Boeing in the first quarter worth $584,000. MFG Wealth Management Inc. bought a new stake in Boeing in the first quarter worth $2,125,000. Finally, Kelman Lazarov Inc. bought a new stake in Boeing in the first quarter worth $262,000. 64.82% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Mortimer J. Buckley bought 2,200 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares of the company's stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Boeing Trading Down 0.5%

Shares of Boeing stock opened at $216.32 on Friday. The firm has a market cap of $163.57 billion, a P/E ratio of -13.10 and a beta of 1.47. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock's fifty day moving average price is $225.06 and its 200-day moving average price is $204.76.

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

Analysts Set New Price Targets

BA has been the subject of a number of analyst reports. UBS Group set a $280.00 price target on Boeing and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Bank of America raised their price target on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and an average target price of $233.91.

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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