IFG Advisory LLC Boosts Holdings in The Boeing Company $BA

IFG Advisory LLC raised its stake in shares of The Boeing Company (NYSE:BA) by 13.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,332 shares of the aircraft producer’s stock after acquiring an additional 284 shares during the quarter. IFG Advisory LLC’s holdings in Boeing were worth $489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 buying an additional 1,212,327 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Boeing by 0.5% in the first 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 shares of Boeing by 3.2% in the first 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 valued at $500,247,000 after buying an additional 91,707 shares during the last quarter. Swiss National Bank raised its position in shares of Boeing by 2.5% in the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock valued at $359,895,000 after buying an additional 51,700 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Boeing by 2.3% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,014,928 shares of the aircraft producer’s stock valued at $422,188,000 after buying an additional 46,180 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boeing

In related news, Director Mortimer J. Buckley purchased 2,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, 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 transaction of $867,103.74. Following the sale, the executive vice president owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BA shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Boeing in a research report on Monday, September 29th. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and increased their target price for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Sanford C. Bernstein increased their target price on shares of Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Susquehanna reaffirmed a “positive” rating and set a $270.00 target price on shares of Boeing in a research note on Monday, September 15th. Finally, Barclays lifted their target price on shares of Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $242.79.

Boeing Price Performance

Shares of BA stock opened at $201.24 on Monday. The firm’s 50-day moving average is $220.17 and its two-hundred day moving average is $213.16. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The company has a market capitalization of $152.96 billion, a PE ratio of -14.71 and a beta of 1.47.

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