The Boeing Company $BA Shares Purchased by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. boosted its holdings in The Boeing Company (NYSE:BA) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,750 shares of the aircraft producer’s stock after purchasing an additional 200 shares during the quarter. Bourne Lent Asset Management Inc.’s holdings in Boeing were worth $367,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. American National Bank & Trust boosted its holdings in shares of Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after acquiring an additional 128 shares during the period. REAP Financial Group LLC boosted its holdings in shares of Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after acquiring an additional 65 shares during the period. Dogwood Wealth Management LLC boosted its holdings in shares of Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after acquiring an additional 112 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Boeing during the fourth quarter valued at $33,000. Finally, Proathlete Wealth Management LLC acquired a new position in shares of Boeing during the first quarter valued at $34,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the topic of a number of recent analyst reports. Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Wells Fargo & Company reiterated an “underweight” rating on shares of Boeing in a research report on Thursday, May 22nd. Citigroup reiterated a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Bank of America boosted their price target on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Morgan Stanley restated an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Three research 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 given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.77.

Boeing Price Performance

Shares of BA opened at $216.12 on Monday. The company has a market capitalization of $163.42 billion, a price-to-earnings ratio of -13.09 and a beta of 1.48. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The business’s 50-day moving average is $228.76 and its 200-day moving average is $199.57.

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

Insider Activity at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares of the company’s stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

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.