GK Wealth Management LLC Grows Position in The Boeing Company $BA

GK Wealth Management LLC increased its position in The Boeing Company (NYSE:BA) by 52.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,615 shares of the aircraft producer’s stock after buying an additional 1,586 shares during the quarter. GK Wealth Management LLC’s holdings in Boeing were worth $967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American National Bank & Trust grew its holdings in Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after acquiring an additional 128 shares during the last quarter. REAP Financial Group LLC boosted its holdings in shares of Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock worth $31,000 after purchasing an additional 65 shares during the period. Dogwood Wealth Management LLC grew its stake in shares of Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after purchasing an additional 112 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in Boeing during the 4th quarter valued at about $33,000. Finally, Proathlete Wealth Management LLC bought a new position in Boeing during the 1st quarter valued at approximately $34,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BA shares. Bank of America upped their target price on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Susquehanna lifted their target price on shares of Boeing from $265.00 to $270.00 and gave the company a “positive” rating in a research note on Wednesday, July 30th. Rothschild & Co Redburn upgraded shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price target on the stock in a research report on Friday, June 27th. Finally, Jefferies Financial Group raised their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $230.77.

Boeing Price Performance

Shares of NYSE BA opened at $216.12 on Monday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a market cap of $163.42 billion, a P/E ratio of -13.09 and a beta of 1.48. The firm has a 50-day moving average of $228.76 and a 200 day moving average of $199.57.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $20.13 billion. During the same quarter in the previous year, the business posted ($2.90) EPS. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. Research analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the firm’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 transaction of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director directly owned 2,200 shares of the company’s stock, valued at $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

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.