Ethic Inc. Grows Stock Position in The Boeing Company $BA

Ethic Inc. increased its holdings in The Boeing Company (NYSE:BA) by 28.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,224 shares of the aircraft producer’s stock after purchasing an additional 2,720 shares during the quarter. Ethic Inc.’s holdings in Boeing were worth $2,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of BA. Kingstone Capital Partners Texas LLC bought a new stake in shares of Boeing in the second quarter worth about $378,459,000. Vanguard Group Inc. grew its stake in shares of Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after purchasing an additional 1,212,327 shares during the last quarter. Strs Ohio bought a new stake in shares of Boeing in the first quarter worth about $98,984,000. Canada Pension Plan Investment Board grew its stake in shares of Boeing by 243.8% in the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock worth $128,689,000 after purchasing an additional 535,060 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in shares of Boeing by 938.4% in the second quarter. Valeo Financial Advisors LLC now owns 556,814 shares of the aircraft producer’s stock worth $116,669,000 after purchasing an additional 503,193 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares of the company’s stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares in the company, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

BA has been the topic of several recent analyst reports. Barclays raised their target price on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Bank of America lifted their price objective on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $242.32.

Boeing Stock Up 1.5%

Shares of BA opened at $221.13 on Friday. The business’s 50 day moving average price is $221.68 and its 200-day moving average price is $210.01. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The stock has a market cap of $167.21 billion, a P/E ratio of -13.39 and a beta of 1.47.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same quarter in the prior year, the company posted ($2.90) earnings per share. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. On average, equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

About Boeing

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.