Benedict Financial Advisors Inc. Invests $1.41 Million in The Boeing Company (NYSE:BA)

Benedict Financial Advisors Inc. acquired a new position in shares of The Boeing Company (NYSE:BA) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,238 shares of the aircraft producer’s stock, valued at approximately $1,405,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wood Tarver Financial Group LLC grew its position in Boeing by 14.3% during the 1st quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer’s stock worth $75,000 after acquiring an additional 55 shares during the last quarter. Byrne Financial Freedom LLC grew its position in shares of Boeing by 3.0% in the 1st quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer’s stock valued at $340,000 after buying an additional 58 shares during the last quarter. HighPoint Advisor Group LLC grew its position in shares of Boeing by 0.3% in the 1st quarter. HighPoint Advisor Group LLC now owns 19,657 shares of the aircraft producer’s stock valued at $3,578,000 after buying an additional 58 shares during the last quarter. Trek Financial LLC grew its position in shares of Boeing by 2.7% in the 4th quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer’s stock valued at $408,000 after buying an additional 60 shares during the last quarter. Finally, Colonial Trust Co SC grew its position in shares of Boeing by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 1,042 shares of the aircraft producer’s stock valued at $184,000 after buying an additional 60 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 1.1%

Shares of NYSE BA opened at $231.28 on Friday. The stock has a fifty day simple moving average of $212.47 and a two-hundred day simple moving average of $186.33. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $235.27. The firm has a market cap of $174.39 billion, a price-to-earnings ratio of -12.91 and a beta of 1.41.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same period last year, the company posted ($1.13) earnings per share. Boeing’s revenue for the quarter was up 17.7% on a year-over-year basis. Analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In other news, EVP David Christopher Raymond sold 3,899 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the transaction, the executive vice president directly owned 42,513 shares of the company’s stock, valued at $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president directly owned 13,258 shares of the company’s stock, valued at $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock valued at $1,511,370 over the last three months. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BA. Royal Bank Of Canada reiterated a “cautious” rating on shares of Boeing in a research report on Thursday, June 12th. Morgan Stanley upped their target price on Boeing from $200.00 to $235.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Jefferies Financial Group upped their target price on Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. upped their target price on Boeing from $200.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Finally, TD Securities lowered Boeing to a “cautious” rating in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.55.

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.