Guardian Investment Management Grows Position in The Boeing Company $BA

Guardian Investment Management grew its position in The Boeing Company (NYSE:BA) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,100 shares of the aircraft producer’s stock after purchasing an additional 150 shares during the period. Boeing makes up approximately 1.5% of Guardian Investment Management’s holdings, making the stock its 18th largest holding. Guardian Investment Management’s holdings in Boeing were worth $1,488,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Worth Financial Advisory Group LLC grew its stake in Boeing by 12.2% during the second quarter. Worth Financial Advisory Group LLC now owns 1,624 shares of the aircraft producer’s stock worth $340,000 after buying an additional 177 shares during the period. Uncommon Cents Investing LLC grew its stake in Boeing by 2.6% during the second quarter. Uncommon Cents Investing LLC now owns 8,365 shares of the aircraft producer’s stock worth $1,753,000 after buying an additional 215 shares during the period. KWB Wealth grew its stake in Boeing by 15.1% during the second quarter. KWB Wealth now owns 2,037 shares of the aircraft producer’s stock worth $427,000 after buying an additional 268 shares during the period. TBH Global Asset Management LLC purchased a new stake in Boeing during the second quarter worth approximately $283,000. Finally, Sterneck Capital Management LLC grew its stake in Boeing by 13.4% during the second quarter. Sterneck Capital Management LLC now owns 3,518 shares of the aircraft producer’s stock worth $737,000 after buying an additional 415 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

NYSE BA opened at $221.28 on Friday. 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 $167.32 billion, a price-to-earnings ratio of -13.40 and a beta of 1.48. The company’s fifty day moving average price is $226.53 and its two-hundred day moving average price is $203.15.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS 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 analysts’ expectations of $20.13 billion. During the same quarter last year, the business earned ($2.90) EPS. Boeing’s revenue was up 34.9% compared to the same quarter last year. As a group, analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction on 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 owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the stock in a transaction on Tuesday, August 19th. The shares were 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 of the company’s stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on BA. Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and boosted their price objective for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. Barclays boosted their price objective 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. Jefferies Financial Group boosted their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Boeing in a research note on Monday, July 14th. Finally, KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Three investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $230.77.

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.