Atlantic Union Bankshares Corp Takes Position in The Boeing Company $BA

Atlantic Union Bankshares Corp acquired a new position in The Boeing Company (NYSE:BA) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,487 shares of the aircraft producer’s stock, valued at approximately $1,359,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new position in shares of Boeing during the second quarter valued at approximately $378,459,000. Vanguard Group Inc. lifted its holdings in 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 buying an additional 1,212,327 shares during the period. Bessemer Group Inc. boosted its position in Boeing by 3,581.5% during the 2nd quarter. Bessemer Group Inc. now owns 711,824 shares of the aircraft producer’s stock valued at $149,149,000 after acquiring an additional 692,489 shares in the last quarter. Strs Ohio purchased a new position in shares of Boeing in the 1st quarter valued at $98,984,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Boeing by 243.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock valued at $128,689,000 after acquiring an additional 535,060 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Down 1.1%

Shares of Boeing stock opened at $194.40 on Friday. The company has a 50 day moving average price of $216.65 and a 200 day moving average price of $213.74. The firm has a market capitalization of $147.76 billion, a P/E ratio of -14.21 and a beta of 1.44. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69.

Boeing (NYSE:BA) last issued its quarterly 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 business had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($10.44) EPS. As a group, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BA. Sanford C. Bernstein raised their price objective on Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Barclays increased their price target on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Boeing in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group set a $255.00 target price on shares of Boeing in a research note on Tuesday, September 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $241.80.

Insider Activity

In other news, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

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.