Udine Wealth Management Inc. Acquires New Shares in The Boeing Company $BA

Udine Wealth Management Inc. acquired a new stake in shares of The Boeing Company (NYSE:BA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,711 shares of the aircraft producer’s stock, valued at approximately $359,000.

Several other hedge funds also recently modified their holdings of BA. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Boeing during the 2nd quarter valued at $378,459,000. Vanguard Group Inc. boosted its holdings in shares of 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 in the last quarter. Strs Ohio acquired a new stake in shares of Boeing during the 1st quarter valued at $98,984,000. Canada Pension Plan Investment Board boosted its holdings 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 acquiring an additional 535,060 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of Boeing by 938.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 556,814 shares of the aircraft producer’s stock valued at $116,669,000 after acquiring an additional 503,193 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Down 2.3%

BA stock opened at $211.04 on Friday. The stock has a 50-day moving average price of $224.29 and a 200-day moving average price of $206.38. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The firm has a market cap of $159.58 billion, a PE ratio of -12.78 and a beta of 1.47.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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. During the same period in the previous year, the business posted ($2.90) earnings per share. The company’s quarterly revenue was up 34.9% on a year-over-year basis. On average, analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BA shares. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Sanford C. Bernstein raised their target price on Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Barclays raised their target price on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Susquehanna reaffirmed a “positive” rating and set a $270.00 target price on shares of Boeing in a research report on Monday, September 15th. Finally, Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and raised their target price for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.91.

Insider Activity

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the transaction, the director owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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.