Sagespring Wealth Partners LLC Purchases 3,421 Shares of The Boeing Company $BA

Sagespring Wealth Partners LLC raised its position in shares of The Boeing Company (NYSE:BA) by 47.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,586 shares of the aircraft producer’s stock after purchasing an additional 3,421 shares during the period. Sagespring Wealth Partners LLC’s holdings in Boeing were worth $2,218,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BA. Revolve Wealth Partners LLC bought a new stake in Boeing during the 4th quarter valued at $201,000. GAMMA Investing LLC raised its position in shares of Boeing by 13.9% in the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer’s stock worth $998,000 after acquiring an additional 716 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of Boeing by 103.5% in the 1st quarter. Ritholtz Wealth Management now owns 10,062 shares of the aircraft producer’s stock worth $1,716,000 after acquiring an additional 5,117 shares in the last quarter. Good Life Advisors LLC raised its position in shares of Boeing by 3.0% in the 1st quarter. Good Life Advisors LLC now owns 7,618 shares of the aircraft producer’s stock worth $1,299,000 after acquiring an additional 222 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Boeing in the 1st quarter worth $24,207,000. 64.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BA has been the subject of several recent research reports. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Barclays boosted their price target on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Jefferies Financial Group set a $255.00 target price on Boeing in a research report on Tuesday, September 30th. JPMorgan Chase & Co. upped their target price on Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Vertical Research raised Boeing from a “hold” rating to a “buy” rating and upped their target price for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $240.20.

Boeing Stock Performance

Boeing stock opened at $214.31 on Wednesday. The business’s 50-day simple moving average is $223.95 and its two-hundred day simple moving average is $206.92. The company has a market cap of $162.05 billion, a PE ratio of -12.98 and a beta of 1.47. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BA) last posted its quarterly earnings results 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 business had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The business’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.90) EPS. As a group, analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other 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 value of $867,103.74. Following the sale, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company’s stock, valued at $497,420. This trade represents 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.

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.