Pinnacle Wealth Management Group Inc. Makes New $710,000 Investment in The Boeing Company $BA

Pinnacle Wealth Management Group Inc. purchased a new position in The Boeing Company (NYSE:BA) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,387 shares of the aircraft producer’s stock, valued at approximately $710,000.

Several other institutional investors have also added to or reduced their stakes in BA. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Boeing during the second quarter worth about $378,459,000. Vanguard Group Inc. lifted its holdings in shares of Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after purchasing an additional 1,212,327 shares during the period. Strs Ohio acquired a new stake in shares of Boeing during the first quarter worth about $98,984,000. Canada Pension Plan Investment Board lifted its holdings in shares of Boeing by 243.8% during the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock worth $128,689,000 after purchasing an additional 535,060 shares during the period. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Boeing by 938.4% during the second quarter. Valeo Financial Advisors LLC now owns 556,814 shares of the aircraft producer’s stock worth $116,669,000 after purchasing an additional 503,193 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

Boeing stock opened at $221.13 on Friday. The stock has a market capitalization of $167.21 billion, a PE ratio of -13.39 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 business has a 50 day simple moving average of $221.68 and a 200-day simple moving average of $210.01.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 firm had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. Boeing’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the business earned ($2.90) EPS. On average, equities research analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Bank of America lifted their price target on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. UBS Group set a $280.00 price target on Boeing and gave the company a “buy” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of Boeing in a research report on Monday, September 29th. Finally, Citigroup reiterated a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average target price of $242.32.

Insider Buying and Selling

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

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.