Wealthfront Advisers LLC Grows Position in The Boeing Company $BA

Wealthfront Advisers LLC boosted its stake in shares of The Boeing Company (NYSE:BA) by 54.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 78,812 shares of the aircraft producer’s stock after purchasing an additional 27,694 shares during the period. Wealthfront Advisers LLC’s holdings in Boeing were worth $16,513,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Orion Capital Management LLC grew its position in Boeing by 11.3% during the 2nd quarter. Orion Capital Management LLC now owns 988 shares of the aircraft producer’s stock worth $207,000 after purchasing an additional 100 shares during the last quarter. Strait & Sound Wealth Management LLC grew its position in Boeing by 5.5% during the 2nd quarter. Strait & Sound Wealth Management LLC now owns 3,759 shares of the aircraft producer’s stock worth $788,000 after purchasing an additional 195 shares during the last quarter. Interchange Capital Partners LLC grew its position in Boeing by 14.5% during the 2nd quarter. Interchange Capital Partners LLC now owns 1,769 shares of the aircraft producer’s stock worth $371,000 after purchasing an additional 224 shares during the last quarter. Brighton Jones LLC grew its position in Boeing by 4.9% during the 2nd quarter. Brighton Jones LLC now owns 21,639 shares of the aircraft producer’s stock worth $4,534,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Leelyn Smith LLC grew its position in Boeing by 1.4% during the 2nd quarter. Leelyn Smith LLC now owns 22,841 shares of the aircraft producer’s stock worth $4,786,000 after purchasing an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

BA opened at $221.13 on Monday. The firm has a fifty day moving average price of $221.68 and a 200 day moving average price of $210.85. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a market cap of $167.21 billion, a P/E ratio of -13.39 and a beta of 1.47.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (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 analysts’ expectations of $20.13 billion. During the same period in the prior year, the company posted ($2.90) EPS. Boeing’s revenue for the quarter was up 34.9% on a year-over-year basis. Equities analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BA shares. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and boosted their target price for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a report on Monday, September 29th. Susquehanna reaffirmed a “positive” rating and issued a $270.00 price objective on shares of Boeing in a report on Monday, September 15th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Finally, Citigroup reaffirmed a “buy” rating on shares of Boeing in a report on Monday, July 28th. Three investment 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. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $242.32.

Insider Buying and Selling at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares of the company’s stock, valued at $497,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 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.