Zullo Investment Group Inc. Boosts Stock Position in The Boeing Company $BA

Zullo Investment Group Inc. boosted its holdings in shares of The Boeing Company (NYSE:BA) by 1.2% in the second quarter, Holdings Channel.com reports. The fund owned 6,353 shares of the aircraft producer’s stock after acquiring an additional 77 shares during the quarter. Zullo Investment Group Inc.’s holdings in Boeing were worth $1,331,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Blue Zone Wealth Advisors LLC boosted its holdings in Boeing by 4.5% during the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 25,149 shares of the aircraft producer’s stock valued at $5,269,000 after acquiring an additional 1,093 shares during the period. Strong Tower Advisory Services boosted its holdings in Boeing by 4.0% during the 2nd quarter. Strong Tower Advisory Services now owns 40,568 shares of the aircraft producer’s stock valued at $8,500,000 after acquiring an additional 1,553 shares during the period. Blue Trust Inc. boosted its holdings in Boeing by 4.7% during the 2nd quarter. Blue Trust Inc. now owns 8,715 shares of the aircraft producer’s stock valued at $1,826,000 after acquiring an additional 390 shares during the period. Fourpath Capital Management LLC boosted its holdings in Boeing by 1.7% during the 2nd quarter. Fourpath Capital Management LLC now owns 8,260 shares of the aircraft producer’s stock valued at $1,731,000 after acquiring an additional 140 shares during the period. Finally, Cascade Investment Group Inc. purchased a new position in Boeing during the 2nd quarter valued at $210,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Buying and Selling at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was 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 of the company’s stock, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BA. Jefferies Financial Group set a $255.00 price objective on Boeing in a report on Tuesday, September 30th. Barclays upped their target price on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Bank of America upped their target price on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Rothschild & Co Redburn upgraded Boeing from a “neutral” rating to a “buy” rating and set a $275.00 target price for the company in a report on Friday, June 27th. Finally, Redburn Atlantic upgraded Boeing from a “hold” rating to a “strong-buy” rating and upped their target price for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Three research 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 given a Sell rating to the stock. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.91.

Boeing Trading Down 2.3%

BA opened at $211.04 on Friday. The firm has a market cap of $159.58 billion, a price-to-earnings ratio of -12.78 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 stock has a fifty day moving average price of $224.29 and a 200-day moving average price of $206.19.

Boeing (NYSE:BA) last released 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 firm had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. The company’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period last year, the firm posted ($2.90) earnings per share. On average, equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

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.