Grassi Investment Management Has $9.43 Million Holdings in The Boeing Company $BA

Grassi Investment Management raised its holdings in shares of The Boeing Company (NYSE:BA) by 10.6% during the second quarter, HoldingsChannel.com reports. The firm owned 45,007 shares of the aircraft producer’s stock after acquiring an additional 4,300 shares during the quarter. Grassi Investment Management’s holdings in Boeing were worth $9,430,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BA. Revolve Wealth Partners LLC acquired a new position in Boeing in the fourth quarter valued at approximately $201,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Boeing by 17.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,188 shares of the aircraft producer’s stock worth $885,000 after purchasing an additional 769 shares during the period. Chatham Capital Group Inc. increased its holdings in Boeing by 19.3% in the first quarter. Chatham Capital Group Inc. now owns 3,403 shares of the aircraft producer’s stock valued at $580,000 after purchasing an additional 550 shares during the last quarter. Vest Financial LLC increased its holdings in Boeing by 73.5% in the first quarter. Vest Financial LLC now owns 11,275 shares of the aircraft producer’s stock valued at $1,923,000 after purchasing an additional 4,777 shares during the last quarter. Finally, Foster Group Inc. lifted its stake in Boeing by 3.8% in the first quarter. Foster Group Inc. now owns 3,346 shares of the aircraft producer’s stock valued at $571,000 after buying an additional 122 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boeing

In other news, Director Mortimer J. Buckley purchased 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, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the topic of several analyst reports. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a “buy” rating in a research note on Thursday, June 12th. Jefferies Financial Group set a $255.00 price target on shares of Boeing in a research report on Tuesday. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of Boeing in a report on Monday. Finally, Sanford C. Bernstein lifted their target price on Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $233.91.

Boeing Price Performance

Boeing stock opened at $216.32 on Friday. The firm has a 50-day moving average of $225.06 and a 200-day moving average of $204.76. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The company has a market cap of $163.57 billion, a price-to-earnings ratio of -13.10 and a beta of 1.47.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $20.13 billion. During the same period last year, the company posted ($2.90) EPS. Boeing’s revenue was up 34.9% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

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.