Modus Advisors LLC Boosts Holdings in The Boeing Company (NYSE:BA)

Modus Advisors LLC grew its stake in The Boeing Company (NYSE:BA) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,028 shares of the aircraft producer’s stock after purchasing an additional 243 shares during the quarter. Modus Advisors LLC’s holdings in Boeing were worth $2,540,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Donaldson Capital Management LLC lifted its position in Boeing by 3.2% in the first quarter. Donaldson Capital Management LLC now owns 1,539 shares of the aircraft producer’s stock worth $327,000 after purchasing an additional 48 shares during the period. Avalon Investment & Advisory lifted its stake in Boeing by 2.7% during the fourth quarter. Avalon Investment & Advisory now owns 1,884 shares of the aircraft producer’s stock valued at $359,000 after buying an additional 49 shares in the last quarter. Waverly Advisors LLC lifted its position in shares of Boeing by 0.6% in the 4th quarter. Waverly Advisors LLC now owns 8,015 shares of the aircraft producer’s stock valued at $1,527,000 after acquiring an additional 49 shares in the last quarter. Silverlake Wealth Management LLC boosted its stake in Boeing by 0.9% in the 1st quarter. Silverlake Wealth Management LLC now owns 5,773 shares of the aircraft producer’s stock worth $1,226,000 after purchasing an additional 50 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. boosted its position in shares of Boeing by 3.4% in the first quarter. Cornell Pochily Investment Advisors Inc. now owns 1,508 shares of the aircraft producer’s stock worth $320,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 61.33% of the company’s stock.

Insider Transactions at Boeing

In related news, Director Steven M. Mollenkopf acquired 850 shares of the stock in a transaction on Monday, July 31st. The stock was purchased at an average price of $237.00 per share, for a total transaction of $201,450.00. Following the transaction, the director now owns 3,767 shares of the company’s stock, valued at approximately $892,779. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other Boeing news, CEO Theodore Colbert III sold 8,500 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total transaction of $2,026,145.00. Following the completion of the sale, the chief executive officer now directly owns 59,255 shares of the company’s stock, valued at approximately $14,124,614.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven M. Mollenkopf bought 850 shares of Boeing stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $237.00 per share, for a total transaction of $201,450.00. Following the purchase, the director now directly owns 3,767 shares in the company, valued at approximately $892,779. The disclosure for this purchase can be found here. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BA. Bank of America raised shares of Boeing from a “neutral” rating to a “buy” rating and increased their price target for the stock from $225.00 to $300.00 in a research report on Thursday, July 27th. Citigroup boosted their target price on shares of Boeing from $248.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. JPMorgan Chase & Co. upped their price objective on shares of Boeing from $225.00 to $245.00 in a report on Thursday, July 27th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Tuesday, August 1st. Finally, StockNews.com began coverage on Boeing in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.13.

Boeing Price Performance

Shares of Boeing stock traded up $1.06 during midday trading on Thursday, hitting $209.46. 942,191 shares of the company were exchanged, compared to its average volume of 5,636,540. The firm has a 50 day simple moving average of $223.79 and a 200-day simple moving average of $212.95. The firm has a market cap of $126.01 billion, a P/E ratio of -27.83 and a beta of 1.43. The Boeing Company has a 52 week low of $120.99 and a 52 week high of $243.10.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 26th. The aircraft producer reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.17. The firm had revenue of $19.75 billion during the quarter, compared to analyst estimates of $18.59 billion. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.37) EPS. Equities research analysts expect that The Boeing Company will post -1.95 earnings per share 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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.