Financial Gravity Companies Inc. Invests $2.69 Million in The Boeing Company $BA

Financial Gravity Companies Inc. bought a new stake in The Boeing Company (NYSE:BA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,843 shares of the aircraft producer’s stock, valued at approximately $2,691,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new stake in shares of Boeing in the second quarter valued at about $25,000. Piscataqua Savings Bank grew its stake in Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in shares of Boeing during the 2nd quarter worth approximately $35,000. IMG Wealth Management Inc. boosted its holdings in shares of Boeing by 159.4% in the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after buying an additional 110 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in shares of Boeing in the second quarter valued at $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BA has been the topic of several analyst reports. Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. UBS Group reaffirmed a “buy” rating on shares of Boeing in a report on Thursday, October 30th. Zacks Research cut Boeing from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Sanford C. Bernstein reissued an “outperform” rating and set a $267.00 price target on shares of Boeing in a research report on Friday. Finally, JPMorgan Chase & Co. cut their price objective on Boeing from $251.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $240.30.

Insiders Place Their Bets

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the acquisition, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the transaction, the executive vice president owned 14,656 shares in the company, valued at approximately $2,896,904.96. The trade was a 8.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by company insiders.

Boeing Stock Down 0.1%

Boeing stock opened at $194.45 on Friday. The company’s 50-day moving average price is $212.85 and its two-hundred day moving average price is $214.68. The stock has a market cap of $147.80 billion, a P/E ratio of -14.21 and a beta of 1.44. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) 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 the consensus estimate of $21.61 billion. The company’s revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($10.44) earnings per share. Equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal 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.