Exchange Traded Concepts LLC Increases Holdings in The Boeing Company $BA

Exchange Traded Concepts LLC increased its position in The Boeing Company (NYSE:BA) by 180.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,939 shares of the aircraft producer’s stock after acquiring an additional 2,533 shares during the period. Exchange Traded Concepts LLC’s holdings in Boeing were worth $850,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BA. Harbor Asset Planning Inc. acquired a new stake in Boeing in the second quarter valued at $25,000. Piscataqua Savings Bank boosted its position in shares of 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 buying an additional 137 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in Boeing in the 2nd quarter valued at about $34,000. Decker Retirement Planning Inc. acquired a new stake in Boeing in the 2nd quarter valued at about $35,000. Finally, IMG Wealth Management Inc. increased its holdings in Boeing by 159.4% during the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after acquiring an additional 110 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Boeing

In related news, SVP Dana S. Deasy purchased 554 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average price of $178.88 per share, with a total value of $99,099.52. Following the completion of the transaction, the senior vice president owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. This trade represents a 1.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction 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 in the company, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is currently owned by company insiders.

Boeing Stock Performance

Shares of BA opened at $216.34 on Monday. The stock has a fifty day moving average of $202.10 and a two-hundred day moving average of $214.26. The company has a market capitalization of $164.44 billion, a PE ratio of -15.81 and a beta of 1.18. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 firm 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% on a year-over-year basis. During the same quarter last year, the business earned ($10.44) EPS. As a group, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $267.00 price target on shares of Boeing in a report on Friday, November 14th. JPMorgan Chase & Co. lifted their price objective on Boeing from $240.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Citigroup assumed coverage on Boeing in a report on Thursday, December 11th. They set a “buy” rating and a $265.00 target price on the stock. BNP Paribas set a $150.00 price target on Boeing in a research report on Tuesday, November 18th. Finally, UBS Group reissued a “buy” rating on shares of Boeing in a report on Wednesday, December 10th. 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 five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.17.

Boeing Company Profile

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.