Pittenger & Anderson Inc. Takes Position in The Boeing Company $BA

Pittenger & Anderson Inc. purchased a new stake in The Boeing Company (NYSE:BA) in the second quarter, HoldingsChannel reports. The firm purchased 3,003 shares of the aircraft producer’s stock, valued at approximately $629,000.

A number of other hedge funds have also made changes to their positions in BA. Aspire Capital Advisors LLC boosted its stake in shares of Boeing by 0.8% during the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock valued at $1,245,000 after acquiring an additional 45 shares during the last quarter. Lantz Financial LLC boosted its stake in shares of Boeing by 1.5% during the second quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock valued at $644,000 after acquiring an additional 46 shares during the last quarter. Atlas Brown Inc. boosted its stake in shares of Boeing by 0.7% during the second quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock valued at $1,362,000 after acquiring an additional 48 shares during the last quarter. Moody National Bank Trust Division boosted its stake in shares of Boeing by 2.7% during the second quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer’s stock valued at $385,000 after acquiring an additional 48 shares during the last quarter. Finally, Heck Capital Advisors LLC boosted its stake in shares of Boeing by 3.6% during the second quarter. Heck Capital Advisors LLC now owns 1,398 shares of the aircraft producer’s stock valued at $293,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Boeing stock opened at $217.29 on Wednesday. The company has a market cap of $164.30 billion, a price-to-earnings ratio of -13.16 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 50-day moving average is $222.62 and its 200-day moving average is $208.85.

Boeing (NYSE:BA) last announced its 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 company had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.90) EPS. Research analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

In related news, EVP David Christopher Raymond sold 3,771 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director directly 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. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

BA has been the topic of a number of analyst reports. Sanford C. Bernstein increased their price objective on Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and raised their price target for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Citigroup reissued a “buy” rating on shares of Boeing in a research note on Monday, July 28th. 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 note on Friday, August 1st. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of Boeing in a research note on Monday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $240.20.

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.