Pegasus Asset Management Inc. Purchases 287 Shares of The Boeing Company $BA

Pegasus Asset Management Inc. increased its stake in The Boeing Company (NYSE:BA) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,023 shares of the aircraft producer’s stock after purchasing an additional 287 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Boeing were worth $2,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BA. Revolve Wealth Partners LLC bought a new stake in shares of Boeing during the 4th quarter valued at $201,000. GAMMA Investing LLC boosted its holdings in shares of Boeing by 13.9% in the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer’s stock worth $998,000 after purchasing an additional 716 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its holdings in shares of Boeing by 50.8% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 5,558 shares of the aircraft producer’s stock worth $948,000 after purchasing an additional 1,873 shares in the last quarter. Goldstone Financial Group LLC purchased a new stake in Boeing during the 1st quarter valued at about $278,000. Finally, Stock Yards Bank & Trust Co. boosted its holdings in Boeing by 11.4% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 3,194 shares of the aircraft producer’s stock valued at $545,000 after acquiring an additional 328 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction 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. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. The trade was a ? increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Boeing Stock Performance

NYSE BA opened at $211.04 on Monday. The company has a market capitalization of $159.58 billion, a PE ratio of -12.78 and a beta of 1.47. The business’s fifty day moving average is $224.29 and its 200 day moving average is $206.57. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BA) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.90) EPS. On average, sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on BA. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Jefferies Financial Group set a $255.00 target price on Boeing in a research report on Tuesday, September 30th. Susquehanna restated a “positive” rating and issued a $270.00 price target on shares of Boeing in a research note on Monday, September 15th. Vertical Research upgraded Boeing from a “hold” rating to a “buy” rating and increased their target price for the company from $242.00 to $270.00 in a research note on Monday, September 8th. Finally, JPMorgan Chase & Co. lifted their target price on Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.91.

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.