Envestnet Portfolio Solutions Inc. Buys 3,125 Shares of The Boeing Company $BA

Envestnet Portfolio Solutions Inc. raised its stake in shares of The Boeing Company (NYSE:BA) by 14.4% in the 2nd quarter, Holdings Channel reports. The firm owned 24,849 shares of the aircraft producer’s stock after purchasing an additional 3,125 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Boeing were worth $5,207,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BA. Revolve Wealth Partners LLC bought a new position in Boeing during the 4th quarter worth $201,000. GAMMA Investing LLC raised its position in Boeing by 13.9% during the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer’s stock worth $998,000 after purchasing an additional 716 shares during the last quarter. Ritholtz Wealth Management raised its position in Boeing by 103.5% during the 1st quarter. Ritholtz Wealth Management now owns 10,062 shares of the aircraft producer’s stock worth $1,716,000 after purchasing an additional 5,117 shares during the last quarter. Good Life Advisors LLC raised its position in Boeing by 3.0% during the 1st quarter. Good Life Advisors LLC now owns 7,618 shares of the aircraft producer’s stock worth $1,299,000 after purchasing an additional 222 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Boeing during the 1st quarter worth $24,207,000. 64.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Jefferies Financial Group set a $255.00 price objective on Boeing in a research report on Tuesday, September 30th. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. UBS Group set a $280.00 price objective on Boeing and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a research report on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $240.20.

Boeing Price Performance

Shares of BA opened at $214.31 on Wednesday. The stock has a 50-day moving average of $223.95 and a 200-day moving average of $206.92. The company has a market cap of $162.05 billion, a PE ratio of -12.98 and a beta of 1.47. The Boeing Company has a one year low of $128.88 and a one year high of $242.69.

Boeing (NYSE:BA) last issued its 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 firm had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. Boeing’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.90) EPS. Analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, 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 value of $867,103.74. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price 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 $497,420. This trade 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.

About Boeing

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.