Arbor Wealth Advisors LLC Buys Shares of 5,239 The Boeing Company $BA

by · The Cerbat Gem

Arbor Wealth Advisors LLC acquired a new position in The Boeing Company (NYSE:BA – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,239 shares of the aircraft producer’s stock, valued at approximately $1,098,000. Boeing makes up approximately 0.9% of Arbor Wealth Advisors LLC’s investment portfolio, making the stock its 20th largest position.

A number of other large investors have also made changes to their positions in the stock. Vestcor Inc grew its stake in Boeing by 9.0% during the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock worth $2,471,000 after buying an additional 1,195 shares during the last quarter. National Pension Service boosted its holdings in shares of Boeing by 19.6% during the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock worth $227,365,000 after buying an additional 218,049 shares during the period. Wynn Capital LLC bought a new stake in Boeing in the 1st quarter valued at about $584,000. MFG Wealth Management Inc. acquired a new position in Boeing during the 1st quarter worth approximately $2,125,000. Finally, Kelman Lazarov Inc. bought a new stake in shares of Boeing in the 1st quarter valued at $262,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Transactions at Boeing

In related news, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed 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 that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Boeing Stock Down 0.1%

Shares of Boeing stock opened at $214.73 on Thursday. The business’s fifty day simple moving average is $228.40 and its 200-day simple moving average is $200.07. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The firm has a market cap of $162.37 billion, a PE ratio of -13.01 and a beta of 1.48.

Boeing (NYSE:BA – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The business’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.90) EPS. As a group, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on BA. Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Boeing in a report on Wednesday, July 30th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a research note on Thursday, May 22nd. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a “buy” rating in a research note on Thursday, June 12th. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and upped their price target for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Finally, Barclays increased their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $230.77.

Check Out Our Latest Analysis on BA

Boeing Profile

(Free Report)

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.

Further Reading

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