Pinnacle Wealth Management Group Inc. Takes Position in The Boeing Company $BA

Pinnacle Wealth Management Group Inc. bought a new stake in shares of The Boeing Company (NYSE:BA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,387 shares of the aircraft producer’s stock, valued at approximately $710,000.

A number of other hedge funds have also recently modified their holdings of the business. Wallace Advisory Group LLC raised its holdings in Boeing by 1.2% during the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock valued at $748,000 after buying an additional 44 shares during the period. Aspire Capital Advisors LLC raised its holdings in Boeing by 0.8% during the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock valued at $1,245,000 after buying an additional 45 shares during the period. Lantz Financial LLC raised its holdings in Boeing by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock valued at $644,000 after buying an additional 46 shares during the period. Atlas Brown Inc. raised its holdings in Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock valued at $1,362,000 after buying an additional 48 shares during the period. Finally, Moody National Bank Trust Division raised its holdings in Boeing by 2.7% during the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer’s stock valued at $385,000 after buying an additional 48 shares during the period. Institutional investors own 64.82% of the company’s stock.

Insider Transactions at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the firm’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 sale, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mortimer J. Buckley acquired 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 transaction, the director owned 2,200 shares of the company’s stock, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Redburn Atlantic upgraded Boeing from a “hold” rating to a “strong-buy” rating and increased their price target for the company from $180.00 to $275.00 in a report on Friday, June 27th. UBS Group set a $280.00 price target on Boeing and gave the company a “buy” rating in a report on Wednesday, July 30th. Sanford C. Bernstein increased their target price on Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Rothschild & Co Redburn upgraded Boeing from a “neutral” rating to a “buy” rating and set a $275.00 target price on the stock in a research note on Friday, June 27th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $242.32.

Boeing Trading Up 1.5%

Shares of Boeing stock opened at $221.13 on Friday. The firm has a market cap of $167.21 billion, a P/E ratio of -13.39 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’s fifty day moving average price is $221.68 and its 200-day moving average price is $210.01.

Boeing (NYSE:BA) last announced 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 revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.90) EPS. Analysts forecast that The Boeing Company will post -2.58 earnings per share 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.