Norden Group LLC Acquires 54 Shares of The Boeing Company $BA

Norden Group LLC boosted its holdings in The Boeing Company (NYSE:BA) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,875 shares of the aircraft producer’s stock after purchasing an additional 54 shares during the period. Norden Group LLC’s holdings in Boeing were worth $1,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. DB Fitzpatrick & Co Inc raised its holdings in Boeing by 1.0% during the second quarter. DB Fitzpatrick & Co Inc now owns 8,589 shares of the aircraft producer’s stock worth $1,800,000 after acquiring an additional 84 shares in the last quarter. Accurate Wealth Management LLC acquired a new position in shares of Boeing during the 2nd quarter worth approximately $405,000. Waycross Partners LLC raised its stake in shares of Boeing by 3.4% during the 2nd quarter. Waycross Partners LLC now owns 187,335 shares of the aircraft producer’s stock worth $39,252,000 after purchasing an additional 6,215 shares in the last quarter. AM Investment Strategies LLC acquired a new stake in shares of Boeing in the 2nd quarter valued at approximately $317,000. Finally, Retirement Income Solutions Inc bought a new position in shares of Boeing in the second quarter valued at $204,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on BA. UBS Group set a $280.00 price target on shares of Boeing and gave the company a “buy” rating in a research note on Wednesday, July 30th. Barclays lifted their price target on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Jefferies Financial Group upped their price objective on Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Rothschild & Co Redburn raised Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective for the company in a research report on Friday, June 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $250.00 target price on shares of Boeing in a report on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $230.77.

Boeing Trading Down 0.5%

Boeing stock opened at $215.36 on Thursday. The company has a market capitalization of $162.84 billion, a price-to-earnings ratio of -13.04 and a beta of 1.48. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock’s 50 day moving average is $227.04 and its 200-day moving average is $201.93.

Boeing (NYSE:BA) last released its quarterly 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 during the quarter, compared to analyst estimates of $20.13 billion. During the same period in the previous year, the business earned ($2.90) EPS. Boeing’s revenue for the quarter was up 34.9% compared to the same quarter last year. As a group, equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the business’s 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 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 position. The disclosure for this sale can be found here. Corporate 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.