Brighton Jones LLC Raises Position in The Boeing Company $BA

Brighton Jones LLC grew its holdings in shares of The Boeing Company (NYSE:BA) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,639 shares of the aircraft producer’s stock after purchasing an additional 1,018 shares during the period. Brighton Jones LLC’s holdings in Boeing were worth $4,534,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Leelyn Smith LLC lifted its holdings in shares of Boeing by 1.4% during the 2nd quarter. Leelyn Smith LLC now owns 22,841 shares of the aircraft producer’s stock valued at $4,786,000 after purchasing an additional 311 shares during the last quarter. Pinnacle Wealth Management Group Inc. purchased a new stake in shares of Boeing during the 2nd quarter valued at $710,000. Sage Mountain Advisors LLC lifted its holdings in shares of Boeing by 42.9% during the 2nd quarter. Sage Mountain Advisors LLC now owns 4,407 shares of the aircraft producer’s stock valued at $923,000 after purchasing an additional 1,322 shares during the last quarter. Lee Danner & Bass Inc. lifted its holdings in shares of Boeing by 2.3% during the 2nd quarter. Lee Danner & Bass Inc. now owns 28,723 shares of the aircraft producer’s stock valued at $6,018,000 after purchasing an additional 643 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Boeing by 2.3% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,014,928 shares of the aircraft producer’s stock valued at $422,188,000 after purchasing an additional 46,180 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Activity

In other Boeing news, Director Mortimer J. Buckley bought 2,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the firm’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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Boeing Stock Performance

Shares of BA opened at $221.13 on Friday. The business’s 50-day moving average is $221.68 and its two-hundred day moving average is $210.51. The company has a market capitalization of $167.21 billion, a P/E ratio of -13.39 and a beta of 1.47. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

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 the consensus estimate 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. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.90) earnings per share. Analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analyst Weigh In

BA has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a research note on Friday. 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 note on Thursday, October 2nd. Barclays raised their target price on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. 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 note on Wednesday, July 30th. Finally, Jefferies Financial Group set a $255.00 target price on Boeing in a research note on Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $242.32.

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.