Brown Lisle Cummings Inc. Increases Stake in The Boeing Company $BA

Brown Lisle Cummings Inc. increased its position in The Boeing Company (NYSE:BA) by 9.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,550 shares of the aircraft producer’s stock after purchasing an additional 227 shares during the period. Brown Lisle Cummings Inc.’s holdings in Boeing were worth $534,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in BA. American National Bank & Trust grew its holdings in Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after buying an additional 128 shares in the last quarter. Piscataqua Savings Bank grew its holdings in Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 137 shares in the last quarter. Proathlete Wealth Management LLC purchased a new position in Boeing during the 1st quarter valued at about $34,000. Monetary Management Group Inc. grew its holdings in Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after buying an additional 50 shares in the last quarter. Finally, Columbia River Financial Group LLC purchased a new position in Boeing during the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

BA stock opened at $221.28 on Friday. The company has a market capitalization of $167.32 billion, a PE ratio of -13.40 and a beta of 1.48. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The company’s 50 day moving average price is $226.53 and its two-hundred day moving average price is $202.84.

Boeing (NYSE:BA) last posted 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 business had revenue of $22.75 billion for the quarter, compared to analysts’ expectations of $20.13 billion. The business’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.90) earnings per share. On average, research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity at Boeing

In related news, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares of the company’s stock, valued at $497,420. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. The trade was 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.

Wall Street Analyst Weigh In

BA has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. JPMorgan Chase & Co. boosted their price objective on Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and boosted their price objective for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Citigroup reissued a “buy” rating on shares of Boeing in a report on Monday, July 28th. Finally, Rothschild & Co Redburn raised Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective for the company in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average price target of $230.77.

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.