Kercheville Advisors LLC Takes $2.36 Million Position in The Boeing Company $BA

Kercheville Advisors LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,249 shares of the aircraft producer’s stock, valued at approximately $2,357,000.

Other hedge funds also recently modified their holdings of the company. Piscataqua Savings Bank boosted its stake in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after acquiring an additional 137 shares in the last quarter. Proathlete Wealth Management LLC bought a new stake in shares of Boeing during the 1st quarter worth $34,000. Monetary Management Group Inc. boosted its stake in shares of Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after acquiring an additional 50 shares in the last quarter. Columbia River Financial Group LLC bought a new stake in shares of Boeing during the 1st quarter worth $50,000. Finally, Iron Horse Wealth Management LLC boosted its stake in shares of Boeing by 33.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer’s stock worth $51,000 after acquiring an additional 75 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the business’s 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 transaction, the executive vice president 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BA shares. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and raised their price objective for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Sanford C. Bernstein raised their target price on Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research report on Thursday. 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 report on Friday, August 1st. JPMorgan Chase & Co. raised their target price on Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $270.00 target price on shares of Boeing in a research report on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $233.91.

Boeing Price Performance

Shares of NYSE:BA opened at $216.32 on Friday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The business has a 50-day moving average of $225.06 and a two-hundred day moving average of $204.98. The stock has a market capitalization of $163.57 billion, a P/E ratio of -13.10 and a beta of 1.47.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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 the consensus estimate of $20.13 billion. During the same period in the prior year, the company earned ($2.90) earnings per share. Boeing’s revenue was up 34.9% on a year-over-year basis. As a group, research analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.