Redwood Wealth Management Group LLC Makes New Investment in The Boeing Company $BA

Redwood Wealth Management Group LLC purchased a new position in shares of The Boeing Company (NYSE:BA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,136 shares of the aircraft producer’s stock, valued at approximately $238,000.

Other large investors also recently added to or reduced their stakes in the company. Vestcor Inc boosted its stake in shares of Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock valued at $2,471,000 after purchasing an additional 1,195 shares during the period. National Pension Service raised its holdings in Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock valued at $227,365,000 after acquiring an additional 218,049 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Boeing during the second quarter worth approximately $62,859,000. Kelman Lazarov Inc. acquired a new stake in Boeing during the first quarter worth approximately $262,000. Finally, Vanguard Group Inc. raised its holdings in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after purchasing an additional 1,212,327 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Up 0.6%

NYSE:BA opened at $201.24 on Friday. The business’s 50-day moving average price is $220.17 and its 200 day moving average price is $212.77. The firm has a market cap of $152.17 billion, a P/E ratio of -14.71 and a beta of 1.47. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The business had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($10.44) EPS. Sell-side analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Citigroup reiterated a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Barclays upped their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Finally, Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and increased their price objective for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.79.

Insider Activity at Boeing

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president directly 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 SEC filing for this sale provides additional information. 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.