Friedenthal Financial Boosts Stake in The Boeing Company $BA

Friedenthal Financial grew its stake in The Boeing Company (NYSE:BA) by 2,483.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,572 shares of the aircraft producer’s stock after buying an additional 4,395 shares during the period. Friedenthal Financial’s holdings in Boeing were worth $958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Piscataqua Savings Bank raised its holdings in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after buying an additional 137 shares during the last quarter. Proathlete Wealth Management LLC acquired a new stake in shares of Boeing in the first quarter worth $34,000. Monetary Management Group Inc. increased its stake in shares of Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after acquiring an additional 50 shares during the period. Columbia River Financial Group LLC acquired a new stake in shares of Boeing in the first quarter worth $50,000. Finally, Iron Horse Wealth Management LLC increased its stake in shares of Boeing by 33.8% in the first quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer’s stock worth $51,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

BA has been the topic of a number of research reports. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and increased their price objective for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Boeing in a research note on Saturday, September 27th. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research note on Tuesday, September 30th. Citigroup restated a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Finally, Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and raised their price target for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.91.

Insider Activity

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

Boeing Stock Up 1.0%

Shares of NYSE BA opened at $221.82 on Wednesday. The company’s 50-day simple moving average is $224.63 and its 200-day simple moving average is $205.61. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The firm has a market cap of $167.73 billion, a price-to-earnings ratio of -13.44 and a beta of 1.47.

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