Archon Partners LLC Invests $9.85 Million in The Boeing Company $BA

Archon Partners LLC bought a new stake in The Boeing Company (NYSE:BA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 47,000 shares of the aircraft producer’s stock, valued at approximately $9,848,000. Boeing comprises 1.1% of Archon Partners LLC’s portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of BA. Greenvale Capital LLP raised its stake in shares of Boeing by 70.0% during the 2nd quarter. Greenvale Capital LLP now owns 425,000 shares of the aircraft producer’s stock worth $89,050,000 after purchasing an additional 175,000 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in Boeing during the second quarter worth $736,000. AXA S.A. raised its position in Boeing by 1,225.7% during the second quarter. AXA S.A. now owns 34,655 shares of the aircraft producer’s stock worth $7,261,000 after acquiring an additional 32,041 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new stake in Boeing during the second quarter worth $265,000. Finally, Daiwa Securities Group Inc. lifted its stake in Boeing by 5.5% in the second quarter. Daiwa Securities Group Inc. now owns 194,951 shares of the aircraft producer’s stock valued at $40,848,000 after acquiring an additional 10,197 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 2.8%

Shares of BA stock opened at $200.54 on Wednesday. The stock has a market cap of $152.43 billion, a P/E ratio of -14.66 and a beta of 1.18. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a 50 day simple moving average of $203.72 and a 200 day simple moving average of $214.22.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The business had revenue of $23.27 billion during 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 quarter in the previous year, the business posted ($10.44) EPS. Analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Susquehanna lowered their price objective on shares of Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a research note on Wednesday, November 12th. BNP Paribas Exane began coverage on Boeing in a report on Tuesday, November 18th. They set an “underperform” rating and a $150.00 price target for the company. Sanford C. Bernstein restated an “outperform” rating and issued a $267.00 price objective on shares of Boeing in a research note on Friday, November 14th. Jefferies Financial Group set a $255.00 target price on Boeing in a research note on Tuesday, September 30th. Finally, BNP Paribas set a $150.00 target price on Boeing in a report on Tuesday, November 18th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.17.

Insider Transactions at Boeing

In other news, SVP Dana S. Deasy bought 554 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were purchased at an average cost of $178.88 per share, with a total value of $99,099.52. Following the acquisition, the senior vice president directly owned 28,442 shares in the company, valued at $5,087,704.96. This represents a 1.99% increase in their ownership of the stock. The purchase 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 business’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 transaction, the executive vice president owned 14,656 shares of the company’s stock, valued at $2,896,904.96. The trade was a 8.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.09% of the stock is owned by insiders.

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.