Hardman Johnston Global Advisors LLC Takes $416,000 Position in The Boeing Company $BA

Hardman Johnston Global Advisors LLC acquired a new position in shares of The Boeing Company (NYSE:BA) during the second quarter, HoldingsChannel reports. The fund acquired 1,985 shares of the aircraft producer’s stock, valued at approximately $416,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Piscataqua Savings Bank lifted its position in shares of Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 137 shares in the last quarter. Proathlete Wealth Management LLC bought a new position in Boeing in the 1st quarter worth approximately $34,000. Monetary Management Group Inc. raised its position in Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after purchasing an additional 50 shares during the last quarter. Dogwood Wealth Management LLC increased its stake in shares of Boeing by 30.4% in the 2nd quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer’s stock valued at $52,000 after buying an additional 56 shares during the period. Finally, Columbia River Financial Group LLC acquired a new stake in shares of Boeing in the 1st quarter valued at $50,000. Institutional investors own 64.82% of the company’s stock.

Insider Activity

In related news, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was 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 approximately $8,248,637.62. The trade was a 9.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Boeing Stock Performance

Shares of NYSE BA opened at $217.12 on Friday. The firm has a 50 day moving average price of $225.39 and a 200 day moving average price of $204.38. The stock has a market cap of $164.18 billion, a P/E ratio of -13.15 and a beta of 1.47. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

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

Analyst Ratings Changes

Several research firms recently issued reports on BA. Rothschild & Co Redburn upgraded Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price target on the stock in a report on Friday, June 27th. Sanford C. Bernstein upped their target price on shares of Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday. Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and boosted their price target for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $250.00 price target on shares of Boeing in a research note on Monday. Finally, Bank of America lifted their target price on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Three equities 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 stock. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $233.91.

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.