Summit X LLC Acquires 8,896 Shares of The Boeing Company $BA

Summit X LLC grew its holdings in shares of The Boeing Company (NYSE:BA) by 298.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,872 shares of the aircraft producer’s stock after purchasing an additional 8,896 shares during the period. Summit X LLC’s holdings in Boeing were worth $2,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BA. Wallace Advisory Group LLC raised its stake in Boeing by 1.2% during the second 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 last quarter. Aspire Capital Advisors LLC increased its holdings in shares of Boeing by 0.8% during the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock valued at $1,245,000 after acquiring an additional 45 shares in the last quarter. Lantz Financial LLC raised its position in shares of Boeing by 1.5% in the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock worth $644,000 after purchasing an additional 46 shares during the last quarter. Blue Barn Wealth LLC boosted its stake in Boeing by 1.8% in the 2nd quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock worth $544,000 after purchasing an additional 46 shares in the last quarter. Finally, Atlas Brown Inc. grew its position 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 purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 1.1%

Shares of NYSE:BA opened at $194.40 on Friday. The stock has a market capitalization of $147.76 billion, a PE ratio of -14.21 and a beta of 1.44. The firm’s 50 day moving average price is $216.65 and its 200-day moving average price is $214.09. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) 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 analyst estimates of $21.61 billion. The company’s revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($10.44) earnings per share. Analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on BA shares. Barclays lifted their target price on shares of Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. lowered their price objective on Boeing from $251.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Loop Capital set a $223.00 target price on Boeing in a report on Monday, November 3rd. Bank of America boosted their price target on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Three 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $241.80.

Insider Buying and Selling

In related news, Director Mortimer J. Buckley bought 2,200 shares of the 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 transaction, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.