Triton Wealth Management PLLC Invests $540,000 in The Boeing Company $BA

Triton Wealth Management PLLC acquired a new position in The Boeing Company (NYSE:BA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,335 shares of the aircraft producer’s stock, valued at approximately $540,000.

Several other institutional investors have also recently modified their holdings of BA. Aspire Capital Advisors LLC grew its holdings in Boeing by 0.8% during the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock worth $1,245,000 after acquiring an additional 45 shares during the period. Lantz Financial LLC grew its holdings in Boeing by 1.5% during the second quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock worth $644,000 after acquiring an additional 46 shares during the period. Atlas Brown Inc. grew its holdings in Boeing by 0.7% during the second quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock worth $1,362,000 after acquiring an additional 48 shares during the period. Moody National Bank Trust Division grew its holdings in Boeing by 2.7% during the second quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer’s stock worth $385,000 after acquiring an additional 48 shares during the period. Finally, Heck Capital Advisors LLC grew its holdings in Boeing by 3.6% during the second quarter. Heck Capital Advisors LLC now owns 1,398 shares of the aircraft producer’s stock worth $293,000 after acquiring an additional 49 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, the director owned 2,200 shares of the company’s stock, valued at $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Susquehanna reaffirmed a “positive” rating and set a $270.00 target price on shares of Boeing in a report on Monday, September 15th. JPMorgan Chase & Co. raised their price objective on Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Bank of America raised their price objective on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and raised their price objective for the company from $180.00 to $275.00 in a report on Friday, June 27th. Finally, Rothschild & Co Redburn raised Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective on the stock in a report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus price target of $240.20.

Boeing Price Performance

Shares of NYSE:BA opened at $214.31 on Wednesday. The business’s 50 day moving average price is $223.95 and its 200-day moving average price is $206.92. The firm has a market capitalization of $162.05 billion, a PE ratio of -12.98 and a beta of 1.47. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69.

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

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.