Bowen Hanes & Co. Inc. Boosts Position in The Boeing Company $BA

Bowen Hanes & Co. Inc. raised its position in The Boeing Company (NYSE:BA) by 16.9% during the 2nd quarter, Holdings Channel reports. The firm owned 3,450 shares of the aircraft producer’s stock after acquiring an additional 500 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Boeing were worth $723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vestcor Inc lifted its holdings in shares of Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock valued at $2,471,000 after purchasing an additional 1,195 shares in the last quarter. National Pension Service raised its position in shares of Boeing by 19.6% during the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock worth $227,365,000 after purchasing an additional 218,049 shares during the last quarter. Alpha Cubed Investments LLC raised its position in shares of Boeing by 43.3% during the 2nd quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock worth $754,000 after purchasing an additional 1,088 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Boeing in the 2nd quarter valued at approximately $62,859,000. Finally, Vanguard Group Inc. grew its holdings in Boeing by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after buying an additional 1,118,316 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Activity at Boeing

In related news, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the transaction, the executive vice president owned 14,656 shares in the company, valued at approximately $2,896,904.96. The trade was a 8.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America boosted their price target on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. JPMorgan Chase & Co. cut their target price on shares of Boeing from $251.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Jefferies Financial Group set a $255.00 price target on shares of Boeing in a report on Tuesday, September 30th. Finally, Barclays upped their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.09.

Boeing Trading Up 0.1%

Shares of Boeing stock opened at $179.58 on Friday. The business’s fifty day moving average price is $208.90 and its 200 day moving average price is $214.49. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock has a market capitalization of $136.50 billion, a P/E ratio of -13.13 and a beta of 1.44.

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 company had revenue of $23.27 billion for the quarter, compared to analysts’ expectations of $21.61 billion. The business’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the business posted ($10.44) earnings per share. As a group, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current year.

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.