Tandem Capital Management Corp ADV Raises Position in The Boeing Company $BA

Tandem Capital Management Corp ADV grew its position in The Boeing Company (NYSE:BA) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,692 shares of the aircraft producer’s stock after acquiring an additional 456 shares during the period. Boeing comprises 1.6% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 19th largest holding. Tandem Capital Management Corp ADV’s holdings in Boeing were worth $3,078,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Piscataqua Savings Bank boosted its holdings 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 acquiring an additional 137 shares in the last quarter. Proathlete Wealth Management LLC purchased a new stake in shares of Boeing in the first quarter valued at about $34,000. Monetary Management Group Inc. boosted its holdings 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 acquiring an additional 50 shares in the last quarter. Columbia River Financial Group LLC purchased a new stake in shares of Boeing in the first quarter valued at about $50,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in shares of Boeing by 33.8% in the first quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer’s stock valued at $51,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Buying and Selling

In other news, Director Mortimer J. Buckley acquired 2,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Boeing Price Performance

NYSE:BA opened at $225.26 on Thursday. The firm has a 50 day simple moving average of $224.61 and a 200-day simple moving average of $205.75. The firm has a market cap of $170.33 billion, a PE ratio of -13.64 and a beta of 1.47. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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. Boeing’s revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the company posted ($2.90) earnings per share. As a group, sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on BA shares. Rothschild & Co Redburn raised shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 target price for the company in a report on Friday, June 27th. UBS Group set a $280.00 target price on shares of Boeing and gave the company a “buy” rating in a report on Wednesday, July 30th. 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 report on Monday, September 8th. Citigroup reaffirmed a “buy” rating on shares of Boeing in a report on Monday, July 28th. Finally, Sanford C. Bernstein increased their target price on shares of Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.