Bessemer Group Inc. Grows Stake in The Boeing Company $BA

Bessemer Group Inc. raised its stake in The Boeing Company (NYSE:BA) by 3,581.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 711,824 shares of the aircraft producer’s stock after acquiring an additional 692,489 shares during the quarter. Bessemer Group Inc.’s holdings in Boeing were worth $149,149,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. purchased a new position in Boeing in the second quarter valued at about $25,000. Piscataqua Savings Bank raised its position in shares of 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 during the period. IMG Wealth Management Inc. raised its position in shares of Boeing by 159.4% in the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after purchasing an additional 110 shares during the period. Monetary Management Group Inc. raised its position in shares of Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after purchasing an additional 50 shares during the period. Finally, Keener Financial Planning LLC bought a new stake in shares of Boeing in the second quarter valued at approximately $41,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a report on Friday. Susquehanna reaffirmed a “positive” rating and set a $270.00 target price on shares of Boeing in a report on Monday, September 15th. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Bank of America upped their target price on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and upped their target price for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $242.32.

Boeing Stock Performance

Shares of Boeing stock opened at $221.13 on Monday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The stock has a market capitalization of $167.21 billion, a price-to-earnings ratio of -13.39 and a beta of 1.47. The company has a fifty day moving average of $221.68 and a 200-day moving average of $210.85.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (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 business earned ($2.90) earnings per share. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

In other Boeing news, 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 $8,248,637.62. This represents a 9.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company’s stock in a transaction 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 transaction, the director directly owned 2,200 shares in the company, valued at $497,420. This trade 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 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.