Ameriflex Group Inc. Increases Stock Position in The Boeing Company $BA

Ameriflex Group Inc. boosted its stake in The Boeing Company (NYSE:BA) by 81.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,139 shares of the aircraft producer’s stock after purchasing an additional 1,406 shares during the quarter. Ameriflex Group Inc.’s holdings in Boeing were worth $636,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BA. Kingstone Capital Partners Texas LLC purchased a new stake in Boeing in the 2nd quarter worth $378,459,000. Vanguard Group Inc. lifted its stake in Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after purchasing an additional 1,212,327 shares in the last quarter. Strs Ohio purchased a new stake in Boeing in the 1st quarter worth $98,984,000. Canada Pension Plan Investment Board raised its position in shares of Boeing by 243.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock valued at $128,689,000 after buying an additional 535,060 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Boeing by 38.4% during the 1st quarter. Deutsche Bank AG now owns 1,805,186 shares of the aircraft producer’s stock valued at $307,874,000 after buying an additional 501,161 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.5%

Shares of NYSE:BA opened at $216.32 on Friday. The company has a market capitalization of $163.57 billion, a price-to-earnings ratio of -13.10 and a beta of 1.47. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The firm’s 50-day moving average is $225.06 and its 200 day moving average is $204.76.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) 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 revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.90) EPS. As a group, equities analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BA. Barclays upped their target price on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a research report on Tuesday. Susquehanna restated a “positive” rating and set a $270.00 target price on shares of Boeing in a research report on Monday, September 15th. Morgan Stanley restated an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Finally, 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 report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.91.

Insider Activity

In related news, EVP David Christopher Raymond sold 3,771 shares of the company’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 transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, 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.