AlphaStar Capital Management LLC Invests $393,000 in The Boeing Company $BA

AlphaStar Capital Management LLC purchased a new position in shares of The Boeing Company (NYSE:BA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,875 shares of the aircraft producer’s stock, valued at approximately $393,000.

Other hedge funds have also made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new stake in shares of Boeing during the second quarter worth approximately $25,000. Piscataqua Savings Bank grew its position in shares of Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after buying an additional 137 shares in the last quarter. Monetary Management Group Inc. grew its position in shares of Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after buying an additional 50 shares in the last quarter. IMG Wealth Management Inc. grew its position in shares of Boeing by 159.4% during the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock worth $38,000 after buying an additional 110 shares in the last quarter. Finally, Keener Financial Planning LLC acquired a new stake in shares of Boeing during the second quarter worth approximately $41,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Boeing in a research note on Monday, September 29th. KGI Securities upgraded Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Jefferies Financial Group set a $255.00 price objective on Boeing in a research note on Tuesday, September 30th. JPMorgan Chase & Co. reduced their price objective on Boeing from $251.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, UBS Group restated a “buy” rating on shares of Boeing in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.79.

Boeing Stock Up 0.6%

BA stock opened at $201.24 on Friday. The stock has a market cap of $152.17 billion, a PE ratio of -14.71 and a beta of 1.47. The firm’s 50-day simple moving average is $220.17 and its 200 day simple moving average is $212.77. 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 earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The business had revenue of $23.27 billion for the quarter, compared to analysts’ expectations of $21.61 billion. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period last year, the firm earned ($10.44) earnings per share. Equities analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Transactions at Boeing

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

Boeing Company 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.