WealthPlan Investment Management LLC Increases Position in The Boeing Company $BA

WealthPlan Investment Management LLC lifted its position in The Boeing Company (NYSE:BA) by 21.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,407 shares of the aircraft producer’s stock after purchasing an additional 613 shares during the period. WealthPlan Investment Management LLC’s holdings in Boeing were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Piscataqua Savings Bank increased its stake 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 purchasing an additional 137 shares in the last quarter. Proathlete Wealth Management LLC purchased 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 purchasing an additional 50 shares in the last quarter. Keener Financial Planning LLC purchased a new stake in shares of Boeing in the second quarter worth $41,000. Finally, Dogwood Wealth Management LLC increased its stake in shares of Boeing by 30.4% in the second quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer’s stock worth $52,000 after purchasing an additional 56 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

BA stock opened at $211.94 on Friday. The company has a market capitalization of $160.26 billion, a PE ratio of -12.84 and a beta of 1.47. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The firm’s 50-day moving average is $223.42 and its 200 day moving average is $207.25.

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

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 shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the stock in a transaction that occurred on 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 purchase, the director directly owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BA shares. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a research report on Wednesday, October 8th. Bank of America upped their target price on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Sanford C. Bernstein upped their target price on shares of Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $250.00 target price on shares of Boeing in a research report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.20.

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.