Sage Mountain Advisors LLC Buys 1,322 Shares of The Boeing Company $BA

Sage Mountain Advisors LLC increased its stake in shares of The Boeing Company (NYSE:BA) by 42.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,407 shares of the aircraft producer’s stock after acquiring an additional 1,322 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Boeing were worth $923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new position in Boeing during the second quarter valued at $378,459,000. Vanguard Group Inc. lifted its position in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the last quarter. Strs Ohio bought a new position in Boeing during the first quarter valued at $98,984,000. Canada Pension Plan Investment Board lifted its position in Boeing by 243.8% during the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock valued at $128,689,000 after purchasing an additional 535,060 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in Boeing by 938.4% during the second quarter. Valeo Financial Advisors LLC now owns 556,814 shares of the aircraft producer’s stock valued at $116,669,000 after purchasing an additional 503,193 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

BA stock opened at $221.13 on Friday. The company has a market capitalization of $167.21 billion, a PE ratio of -13.39 and a beta of 1.47. The firm’s 50-day moving average is $221.68 and its 200 day moving average is $210.01. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69.

Boeing (NYSE:BA) last posted 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 business had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter last year, the business earned ($2.90) earnings per share. Sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares in the company, valued at approximately $497,420. This trade represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group set a $280.00 price objective on shares of Boeing and gave the company a “buy” rating in a research report on Wednesday, July 30th. Barclays increased their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Vertical Research raised shares of 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. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. Finally, Jefferies Financial Group set a $255.00 target price on shares of Boeing in a research note on Tuesday, September 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $242.32.

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.