Alliancebernstein L.P. Buys 291,639 Shares of The Boeing Company $BA

Alliancebernstein L.P. increased its stake in The Boeing Company (NYSE:BA) by 29.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,280,715 shares of the aircraft producer’s stock after buying an additional 291,639 shares during the period. Alliancebernstein L.P. owned 0.17% of Boeing worth $218,426,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. American National Bank & Trust boosted its holdings in Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after acquiring an additional 128 shares in the last quarter. REAP Financial Group LLC boosted its stake in Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock worth $31,000 after purchasing an additional 65 shares in the last quarter. Dogwood Wealth Management LLC grew its position in Boeing by 167.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after purchasing an additional 112 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Boeing during the 4th quarter valued at about $33,000. Finally, Proathlete Wealth Management LLC purchased a new position in Boeing in the first quarter worth about $34,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BA. Royal Bank Of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of Boeing in a report on Wednesday, July 30th. KGI Securities upgraded Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Redburn Atlantic upgraded Boeing from a “hold” rating to a “strong-buy” rating and boosted their price target for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Boeing in a research report on Monday, July 14th. Finally, Cowen reiterated a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average price target of $228.90.

Boeing Price Performance

Shares of BA stock opened at $232.33 on Thursday. The company has a market cap of $175.68 billion, a price-to-earnings ratio of -14.07 and a beta of 1.48. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm has a fifty day moving average price of $226.68 and a 200-day moving average price of $197.06.

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. During the same quarter in the previous year, the business earned ($2.90) EPS. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. Equities research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was 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 approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired 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 owned 2,200 shares of the company’s stock, valued at $497,420. This represents a ? increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

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.