Gradient Investments LLC Grows Holdings in The Boeing Company (NYSE:BA)

Gradient Investments LLC boosted its holdings in The Boeing Company (NYSE:BA) by 3.1% in the 2nd quarter, Holdings Channel reports. The firm owned 7,067 shares of the aircraft producer’s stock after purchasing an additional 211 shares during the period. Gradient Investments LLC’s holdings in Boeing were worth $1,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Investment Advisors Ltd. raised its position in Boeing by 12.6% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,791 shares of the aircraft producer’s stock worth $380,000 after buying an additional 200 shares during the last quarter. Investment Management of Virginia LLC purchased a new position in Boeing during the 1st quarter worth $216,000. Aureus Asset Management LLC purchased a new position in Boeing during the 4th quarter worth $2,690,000. Trust Co. of Vermont raised its position in Boeing by 7.6% during the 1st quarter. Trust Co. of Vermont now owns 3,844 shares of the aircraft producer’s stock worth $817,000 after buying an additional 272 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC acquired a new position in shares of Boeing during the 1st quarter worth $324,000. Hedge funds and other institutional investors own 61.33% of the company’s stock.

Insider Buying and Selling at Boeing

In other Boeing news, Director Steven M. Mollenkopf purchased 850 shares of Boeing stock in a transaction on Monday, July 31st. The shares were purchased at an average cost of $237.00 per share, with a total value of $201,450.00. Following the completion of the transaction, the director now directly owns 3,767 shares in the company, valued at approximately $892,779. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Theodore Colbert III sold 8,500 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $238.37, for a total transaction of $2,026,145.00. Following the transaction, the chief executive officer now directly owns 59,255 shares of the company’s stock, valued at $14,124,614.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven M. Mollenkopf bought 850 shares of Boeing stock in a transaction dated Monday, July 31st. The shares were purchased at an average cost of $237.00 per share, for a total transaction of $201,450.00. Following the completion of the transaction, the director now owns 3,767 shares of the company’s stock, valued at approximately $892,779. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by corporate insiders.

Boeing Stock Performance

BA opened at $208.11 on Monday. The company’s 50 day simple moving average is $223.54 and its 200 day simple moving average is $213.09. The Boeing Company has a 1 year low of $120.99 and a 1 year high of $243.10. The stock has a market capitalization of $125.20 billion, a PE ratio of -27.79 and a beta of 1.43.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 26th. The aircraft producer reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.17. The company had revenue of $19.75 billion during the quarter, compared to analyst estimates of $18.59 billion. Boeing’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.37) earnings per share. As a group, sell-side analysts expect that The Boeing Company will post -2.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of recent analyst reports. TheStreet raised shares of Boeing from a “d+” rating to a “c-” rating in a research note on Tuesday, August 15th. Morgan Stanley increased their price objective on shares of Boeing from $220.00 to $235.00 in a research note on Thursday, July 27th. StockNews.com assumed coverage on shares of Boeing in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Jefferies Financial Group lifted their price target on shares of Boeing from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, TD Cowen lifted their price target on shares of Boeing from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, August 28th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $245.13.

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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.