Optimize Financial Inc Takes Position in The Boeing Company $BA

Optimize Financial Inc acquired a new stake in The Boeing Company (NYSE:BA) during the 1st quarter, Holdings Channel reports. The firm acquired 1,369 shares of the aircraft producer’s stock, valued at approximately $233,000.

A number of other hedge funds also recently made changes to their positions in BA. Vestcor Inc raised its position in Boeing by 9.0% during the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock valued at $2,471,000 after purchasing an additional 1,195 shares during the period. National Pension Service grew its stake in Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock worth $227,365,000 after purchasing an additional 218,049 shares in the last quarter. Wynn Capital LLC bought a new stake in Boeing during the 1st quarter valued at $584,000. Zimmer Partners LP bought a new stake in Boeing during the 4th quarter valued at $393,736,000. Finally, MFG Wealth Management Inc. purchased a new stake in shares of Boeing during the 1st quarter valued at $2,125,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Boeing Price Performance

NYSE BA opened at $229.49 on Wednesday. The company has a fifty day moving average of $228.35 and a two-hundred day moving average of $198.48. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The company has a market capitalization of $173.53 billion, a PE ratio of -13.90 and a beta of 1.48.

Boeing (NYSE:BA) last announced its 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 for the quarter, compared to analyst estimates of $20.13 billion. During the same period last year, the firm earned ($2.90) earnings per share. The business’s revenue was up 34.9% on a year-over-year basis. On average, research analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on BA. Rothschild & Co Redburn upgraded Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective for the company in a report on Friday, June 27th. Citigroup restated a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Wells Fargo & Company reiterated an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. Bank of America boosted their target price on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $230.77.

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.