Independence Bank of Kentucky raised its position in The Boeing Company (NYSE:BA – Free Report) by 10.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,375 shares of the aircraft producer’s stock after purchasing an additional 612 shares during the quarter. Independence Bank of Kentucky’s holdings in Boeing were worth $1,346,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Boeing in the fourth quarter valued at about $25,000. Steward Financial Group LLC acquired a new stake in shares of Boeing in the fourth quarter valued at about $30,000. M&R Capital Management Inc. increased its position in shares of Boeing by 90.7% in the second quarter. M&R Capital Management Inc. now owns 143 shares of the aircraft producer’s stock valued at $30,000 after acquiring an additional 68 shares during the last quarter. Raleigh Capital Management Inc. increased its position in shares of Boeing by 48.5% in the first quarter. Raleigh Capital Management Inc. now owns 153 shares of the aircraft producer’s stock valued at $33,000 after acquiring an additional 50 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of Boeing in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 61.33% of the company’s stock.
Wall Street Analysts Forecast Growth
BA has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Boeing from $220.00 to $235.00 in a research report on Thursday, July 27th. JPMorgan Chase & Co. upped their price objective on Boeing from $225.00 to $245.00 in a research note on Thursday, July 27th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research report on Tuesday, August 1st. Jefferies Financial Group raised their price objective on Boeing from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, Wells Fargo & Company raised their price objective on Boeing from $250.00 to $270.00 in a research report on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $245.13.
Insiders Place Their Bets
In other Boeing news, Director Steven M. Mollenkopf purchased 850 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were bought at an average price of $237.00 per share, for a total transaction of $201,450.00. Following the purchase, the director now owns 3,767 shares in the company, valued at approximately $892,779. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Theodore Colbert III sold 8,500 shares of Boeing stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total value of $2,026,145.00. Following the transaction, the chief executive officer now owns 59,255 shares in the company, valued at approximately $14,124,614.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven M. Mollenkopf purchased 850 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was acquired at an average price of $237.00 per share, for a total transaction of $201,450.00. Following the purchase, the director now owns 3,767 shares in the company, valued at approximately $892,779. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.
Boeing Stock Performance
Boeing stock opened at $209.30 on Friday. The stock’s fifty day moving average price is $223.69 and its two-hundred day moving average price is $212.92. The Boeing Company has a one year low of $120.99 and a one year high of $243.10.
Boeing (NYSE:BA – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported ($0.82) EPS for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.17. The company had revenue of $19.75 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter last year, the business earned ($0.37) EPS. Boeing’s revenue was up 18.4% on a year-over-year basis. As a group, equities research analysts forecast that The Boeing Company will post -2.6 EPS for the current fiscal year.
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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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