MFG Wealth Management Inc. Increases Stake in The Boeing Company $BA

MFG Wealth Management Inc. raised its stake in shares of The Boeing Company (NYSE:BA) by 20.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 14,978 shares of the aircraft producer’s stock after purchasing an additional 2,517 shares during the quarter. Boeing makes up approximately 2.6% of MFG Wealth Management Inc.’s portfolio, making the stock its 11th largest holding. MFG Wealth Management Inc.’s holdings in Boeing were worth $3,138,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Boeing by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after acquiring an additional 19,615 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Boeing by 3.2% during the 1st 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 acquiring an additional 91,707 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Boeing by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer’s stock valued at $502,933,000 after acquiring an additional 369,306 shares during the period. Finally, Zimmer Partners LP bought a new position in Boeing during the 4th quarter valued at about $393,736,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BA. Morgan Stanley restated an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. Jefferies Financial Group upped their target price on shares of Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and upped their target price for the company from $180.00 to $275.00 in a research note on Friday, June 27th. JPMorgan Chase & Co. increased their price objective on shares of Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, TD Securities cut shares of Boeing to a “cautious” rating in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average price target of $230.77.

Insider Activity at Boeing

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

Boeing Stock Down 0.1%

Shares of NYSE:BA opened at $215.73 on Tuesday. The firm’s 50 day moving average price is $228.71 and its 200-day moving average price is $199.86. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock has a market capitalization of $163.13 billion, a PE ratio of -13.07 and a beta of 1.48.

Boeing (NYSE:BA) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. The company’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same period last year, the company earned ($2.90) earnings per share. Analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.