Essex Savings Bank Grows Position in The Boeing Company (NYSE:BA)

Essex Savings Bank raised its holdings in shares of The Boeing Company (NYSE:BA) by 13.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,804 shares of the aircraft producer’s stock after purchasing an additional 441 shares during the period. Essex Savings Bank’s holdings in Boeing were worth $649,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BA. S. R. Schill & Associates increased its holdings in shares of Boeing by 2.5% in the 1st quarter. S. R. Schill & Associates now owns 3,422 shares of the aircraft producer’s stock valued at $584,000 after acquiring an additional 85 shares during the period. Pegasus Asset Management Inc. bought a new stake in Boeing during the first quarter valued at about $2,172,000. Wolf Group Capital Advisors purchased a new position in Boeing in the first quarter valued at about $369,000. Cornerstone Wealth Management LLC raised its holdings in Boeing by 5.5% in the first quarter. Cornerstone Wealth Management LLC now owns 15,496 shares of the aircraft producer’s stock worth $2,643,000 after purchasing an additional 811 shares in the last quarter. Finally, Clarius Group LLC lifted its position in shares of Boeing by 15.7% during the first quarter. Clarius Group LLC now owns 3,603 shares of the aircraft producer’s stock valued at $615,000 after buying an additional 488 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Insider Activity at Boeing

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president now owns 20,513 shares in the company, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Brendan J. Nelson sold 640 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president now directly owns 13,258 shares in the company, valued at $2,734,860.24. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock worth $1,511,370 over the last three months. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BA shares. Melius Research set a $204.00 price objective on shares of Boeing in a research report on Monday, March 24th. Morgan Stanley set a $200.00 target price on shares of Boeing and gave the company an “equal weight” rating in a research note on Thursday, June 12th. Susquehanna reaffirmed a “positive” rating and issued a $240.00 price target (up from $205.00) on shares of Boeing in a report on Wednesday, May 14th. Royal Bank Of Canada reiterated a “cautious” rating on shares of Boeing in a report on Thursday, June 12th. Finally, Citigroup reissued a “buy” rating on shares of Boeing in a research report on Thursday, May 22nd. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $209.85.

Boeing Stock Down 0.7%

Shares of NYSE BA opened at $200.21 on Wednesday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $218.80. The business’s 50 day moving average price is $190.97 and its 200 day moving average price is $177.59. The firm has a market cap of $150.96 billion, a P/E ratio of -11.17 and a beta of 1.43.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.13) earnings per share. As a group, research analysts expect that The Boeing Company will post -2.58 earnings per share for the current 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 Commercial Airplanes; Defense, Space & Security; and Global Services segments.