Raleigh Capital Management Inc. Acquires 50 Shares of The Boeing Company (NYSE:BA)

Raleigh Capital Management Inc. grew its stake in The Boeing Company (NYSE:BA) by 48.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153 shares of the aircraft producer’s stock after acquiring an additional 50 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Boeing were worth $33,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Grey Fox Wealth Advisors LLC bought a new position in shares of Boeing during the fourth quarter valued at $25,000. Steward Financial Group LLC bought a new position in Boeing during the 4th quarter valued at about $30,000. True Wealth Design LLC bought a new position in Boeing during the 4th quarter valued at about $33,000. Industrial Alliance Investment Management Inc. bought a new position in Boeing during the 4th quarter valued at about $41,000. Finally, Nordwand Advisors LLC bought a new position in Boeing during the 1st quarter valued at about $42,000. 61.33% of the stock is owned by institutional investors.

Boeing Stock Up 0.3 %

NYSE:BA opened at $209.05 on Friday. The business’s 50-day simple moving average is $223.69 and its two-hundred day simple moving average is $212.92. The stock has a market cap of $125.76 billion, a PE ratio of -27.91 and a beta of 1.43. The Boeing Company has a 52 week low of $120.99 and a 52 week high of $243.10.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 26th. The aircraft producer reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.17. The business had revenue of $19.75 billion for the quarter, compared to the consensus estimate of $18.59 billion. Boeing’s revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.37) earnings per share. Sell-side analysts anticipate that The Boeing Company will post -1.95 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Theodore Colbert III sold 8,500 shares of Boeing stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total value of $2,026,145.00. Following the sale, the chief executive officer now directly owns 59,255 shares of the company’s stock, valued at $14,124,614.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boeing news, Director Steven M. Mollenkopf purchased 850 shares of Boeing stock in a transaction that occurred on Monday, July 31st. The shares were bought at an average price of $237.00 per share, for a total transaction of $201,450.00. Following the completion of the transaction, the director now owns 3,767 shares of the company’s stock, valued at approximately $892,779. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Theodore Colbert III sold 8,500 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total transaction of $2,026,145.00. Following the completion of the sale, the chief executive officer now owns 59,255 shares in the company, valued at approximately $14,124,614.35. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Susquehanna restated a “positive” rating and set a $270.00 target price on shares of Boeing in a research note on Wednesday. Morgan Stanley increased their price target on Boeing from $220.00 to $235.00 in a report on Thursday, July 27th. StockNews.com began coverage on Boeing in a report on Thursday, August 17th. They set a “hold” rating on the stock. JPMorgan Chase & Co. increased their price target on Boeing from $225.00 to $245.00 in a report on Thursday, July 27th. Finally, Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Tuesday, August 1st. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.13.

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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.