Barnes Pettey Financial Advisors LLC Invests $242,000 in The Boeing Company $BA

Barnes Pettey Financial Advisors LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,155 shares of the aircraft producer’s stock, valued at approximately $242,000.

Other hedge funds have also added to or reduced their stakes in the company. Vestcor Inc boosted its stake in Boeing by 9.0% in the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock valued at $2,471,000 after purchasing an additional 1,195 shares during the period. National Pension Service lifted its holdings in shares of Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock worth $227,365,000 after buying an additional 218,049 shares in the last quarter. Alpha Cubed Investments LLC boosted its position in shares of Boeing by 43.3% in the second quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock valued at $754,000 after acquiring an additional 1,088 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Boeing in the second quarter valued at about $62,859,000. Finally, Vanguard Group Inc. increased its position in Boeing by 1.7% during the second quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock worth $13,991,022,000 after acquiring an additional 1,118,316 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

BA has been the subject of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a report on Monday, September 29th. Deutsche Bank Aktiengesellschaft cut Boeing from a “buy” rating to a “hold” rating and set a $240.00 price target for the company. in a research note on Thursday, October 30th. Citigroup restated a “buy” rating on shares of Boeing in a research note on Monday, July 28th. Susquehanna cut their target price on Boeing from $270.00 to $255.00 and set a “positive” rating for the company in a research report on Wednesday, November 12th. Finally, Bank of America increased their target price on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $232.09.

Insider Buying and Selling at Boeing

In related news, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the sale, the executive vice president directly owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. The trade was a 8.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Boeing Stock Performance

Shares of BA stock opened at $179.58 on Friday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The stock’s fifty day moving average price is $208.90 and its two-hundred day moving average price is $214.69. The company has a market cap of $136.50 billion, a PE ratio of -13.13 and a beta of 1.44.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to analyst estimates of $21.61 billion. The firm’s revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($10.44) EPS. On average, equities analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.