Clarkston Capital Partners LLC Buys Shares of 1,097 The Boeing Company $BA

Clarkston Capital Partners LLC purchased a new position in shares of The Boeing Company (NYSE:BA) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,097 shares of the aircraft producer’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Harbor Asset Planning Inc. bought a new position in Boeing during the second quarter valued at about $25,000. Piscataqua Savings Bank lifted its holdings 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 last quarter. Monetary Management Group Inc. boosted its position in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after purchasing an additional 50 shares during the period. Decker Retirement Planning Inc. acquired a new position in Boeing during the second quarter valued at approximately $35,000. Finally, IMG Wealth Management Inc. raised its position in shares of Boeing by 159.4% in 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. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 2.4%

BA stock opened at $186.90 on Friday. The company’s 50-day moving average price is $206.38 and its two-hundred day moving average price is $214.34. The firm has a market cap of $142.06 billion, a P/E ratio of -13.66 and a beta of 1.44. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69.

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

Insider Buying and Selling at Boeing

In related news, SVP Dana S. Deasy acquired 554 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was acquired at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the transaction, the senior vice president directly owned 28,442 shares in the company, valued at $5,087,704.96. This trade represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Uma M. Amuluru sold 1,366 shares of the firm’s 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 completion of the sale, the executive vice president owned 14,656 shares in the company, valued at $2,896,904.96. This represents a 8.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America lifted their target price on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. BNP Paribas Exane began coverage on Boeing in a research report on Tuesday, November 18th. They set an “underperform” rating and a $150.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on Boeing from $251.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Loop Capital set a $223.00 price target on Boeing in a report on Monday, November 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.09.

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.