Alpha Cubed Investments LLC Raises Stake in The Boeing Company $BA

Alpha Cubed Investments LLC grew its holdings in shares of The Boeing Company (NYSE:BA) by 43.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,598 shares of the aircraft producer’s stock after acquiring an additional 1,088 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Boeing were worth $754,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BA. Harbor Asset Planning Inc. purchased a new stake in Boeing during the 2nd quarter valued at about $25,000. Piscataqua Savings Bank increased its stake in Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 137 shares during the period. Decker Retirement Planning Inc. bought a new stake in Boeing in the second quarter valued at approximately $35,000. IMG Wealth Management Inc. boosted its stake in shares of Boeing by 159.4% during the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after purchasing an additional 110 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in shares of Boeing in the second quarter worth approximately $39,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boeing

In related news, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction on Tuesday, August 19th. The stock was bought 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 owned 2,200 shares of the company’s stock, valued at approximately $497,420. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the transaction, the executive vice president owned 14,656 shares in the company, valued at $2,896,904.96. The trade was a 8.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BA has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Boeing from $251.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Morgan Stanley restated an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Jefferies Financial Group set a $255.00 price objective on Boeing in a research report on Tuesday, September 30th. Susquehanna restated a “positive” rating and set a $270.00 target price on shares of Boeing in a report on Monday, September 15th. Finally, Vertical Research raised Boeing from a “hold” rating to a “buy” rating and raised their price target for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $241.80.

Boeing Stock Up 0.1%

Shares of BA stock opened at $194.74 on Tuesday. The stock has a market cap of $148.02 billion, a PE ratio of -14.24 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. The business has a 50-day simple moving average of $215.84 and a 200-day simple moving average of $214.51.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The company had revenue of $23.27 billion for the quarter, compared to analysts’ expectations of $21.61 billion. Boeing’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 posted ($10.44) EPS. Sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.