GK Wealth Management LLC Acquires 1,586 Shares of The Boeing Company $BA

GK Wealth Management LLC raised its holdings in shares of The Boeing Company (NYSE:BA) by 52.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,615 shares of the aircraft producer’s stock after acquiring an additional 1,586 shares during the quarter. GK Wealth Management LLC’s holdings in Boeing were worth $967,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after buying an additional 1,212,327 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after acquiring an additional 19,615 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Boeing by 3.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock valued at $500,247,000 after acquiring an additional 91,707 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Boeing by 14.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,841,432 shares of the aircraft producer’s stock worth $502,933,000 after acquiring an additional 369,306 shares during the period. Finally, Zimmer Partners LP purchased a new position in shares of Boeing during the fourth quarter valued at approximately $393,736,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 1.8%

Shares of NYSE:BA opened at $216.12 on Monday. The stock has a 50 day moving average of $228.76 and a 200 day moving average of $199.57. The company has a market cap of $163.42 billion, a PE ratio of -13.09 and a beta of 1.48. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. Boeing’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.90) earnings per share. Equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

BA has been the topic of several research reports. Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and raised their target price for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Jefferies Financial Group raised their price target on Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Bank of America upped their price objective on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Barclays increased their target price on Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Rothschild & Co Redburn upgraded Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price target for the company in a research note on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $230.77.

Boeing 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.