The Boeing Company $BA Shares Acquired by PBMares Wealth Management LLC

PBMares Wealth Management LLC grew its stake in The Boeing Company (NYSE:BA) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,723 shares of the aircraft producer’s stock after purchasing an additional 70 shares during the quarter. PBMares Wealth Management LLC’s holdings in Boeing were worth $361,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BA. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Boeing in the 2nd quarter valued at about $378,459,000. Vanguard Group Inc. raised its stake in shares of Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares in the last quarter. Strs Ohio acquired a new stake in shares of Boeing in the 1st quarter valued at about $98,984,000. Canada Pension Plan Investment Board raised its stake in shares of Boeing by 243.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock valued at $128,689,000 after purchasing an additional 535,060 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Boeing by 38.4% during the first quarter. Deutsche Bank AG now owns 1,805,186 shares of the aircraft producer’s stock worth $307,874,000 after acquiring an additional 501,161 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Down 0.6%

Shares of NYSE:BA opened at $215.88 on Wednesday. The firm’s 50 day moving average is $226.04 and its two-hundred day moving average is $203.92. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The firm has a market capitalization of $163.24 billion, a P/E ratio of -13.08 and a beta of 1.48.

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 business had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter in the prior year, the firm earned ($2.90) EPS. The company’s revenue for the quarter was up 34.9% compared to the same quarter last year. Analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BA shares. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on shares of Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Boeing in a research note on Monday, July 14th. Bank of America increased their price objective on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research note on Tuesday. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $231.00.

Insider Activity at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred 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 directly owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

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.