Stockman Wealth Management Inc. Takes $234,000 Position in The Boeing Company $BA

Stockman Wealth Management Inc. acquired a new stake in The Boeing Company (NYSE:BA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,118 shares of the aircraft producer’s stock, valued at approximately $234,000.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares during the period. Charles Schwab Investment Management Inc. grew its position in Boeing by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after buying an additional 19,615 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Boeing by 3.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock worth $500,247,000 after buying an additional 91,707 shares during the last quarter. Swiss National Bank lifted its stake in shares of Boeing by 2.5% in the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock worth $359,895,000 after acquiring an additional 51,700 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Boeing by 3.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer’s stock worth $335,770,000 after acquiring an additional 69,560 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on BA. Bank of America raised their price objective on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. UBS Group set a $280.00 price target on Boeing and gave the company a “buy” rating in a research note on Wednesday, July 30th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Boeing in a report on Monday, July 14th. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and raised their target price for the company from $242.00 to $270.00 in a report on Monday, September 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of Boeing in a report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $230.77.

Boeing Trading Up 3.6%

Shares of NYSE:BA opened at $221.28 on Friday. The stock’s 50-day moving average price is $226.53 and its two-hundred day moving average price is $203.15. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The firm has a market cap of $167.32 billion, a price-to-earnings ratio of -13.40 and a beta of 1.48.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. The company’s revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.90) earnings per share. As a group, research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 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 disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Boeing Company 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.