Hodges Capital Management Inc. Raises Holdings in The Boeing Company $BA

Hodges Capital Management Inc. increased its position in The Boeing Company (NYSE:BA) by 55.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,875 shares of the aircraft producer’s stock after buying an additional 15,599 shares during the period. Hodges Capital Management Inc.’s holdings in Boeing were worth $9,193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Boeing by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Boeing by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after purchasing an additional 19,615 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Boeing by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock valued at $500,247,000 after purchasing an additional 91,707 shares during the last quarter. Swiss National Bank grew its stake in shares of Boeing by 2.5% in the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock worth $359,895,000 after buying an additional 51,700 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Boeing by 2.3% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,014,928 shares of the aircraft producer’s stock worth $422,188,000 after buying an additional 46,180 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Down 1.1%

BA stock opened at $194.40 on Monday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The firm has a market cap of $147.76 billion, a price-to-earnings ratio of -14.21 and a beta of 1.44. The business’s fifty day simple moving average is $216.65 and its two-hundred day simple moving average is $214.38.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The firm had revenue of $23.27 billion for the quarter, compared to analysts’ expectations of $21.61 billion. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the prior year, the company earned ($10.44) earnings per share. Research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on BA shares. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and increased their price target for the company from $242.00 to $270.00 in a report on Monday, September 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Boeing in a report on Monday, September 29th. Zacks Research lowered Boeing from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Susquehanna restated a “positive” rating and issued a $270.00 price target on shares of Boeing in a research report on Monday, September 15th. Finally, UBS Group reiterated a “buy” rating on shares of Boeing in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.80.

Insider Buying and Selling

In related news, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by corporate insiders.

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.