Exchange Traded Concepts LLC Raises Stake in The Boeing Company $BA

Exchange Traded Concepts LLC increased its holdings in shares of The Boeing Company (NYSE:BA) by 180.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,939 shares of the aircraft producer’s stock after purchasing an additional 2,533 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Boeing were worth $850,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Asset Planning Inc. acquired a new stake in shares of Boeing in the second quarter worth $25,000. Piscataqua Savings Bank boosted its position in Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 137 shares during the period. Howard Hughes Medical Institute acquired a new stake in Boeing in the 2nd quarter valued at $34,000. Decker Retirement Planning Inc. purchased a new position in Boeing in the second quarter valued at about $35,000. Finally, IMG Wealth Management Inc. lifted its stake in shares of Boeing by 159.4% during the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock worth $38,000 after purchasing an additional 110 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on BA. Loop Capital set a $223.00 target price on Boeing in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price objective for the company. in a research report on Thursday, October 30th. Citigroup assumed coverage on shares of Boeing in a research note on Thursday, December 11th. They set a “buy” rating and a $265.00 price objective on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $250.00 target price on shares of Boeing in a research note on Monday, September 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $267.00 price target on shares of Boeing in a research note on Friday, November 14th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.17.

Boeing Price Performance

BA stock opened at $216.34 on Monday. The firm has a market cap of $164.44 billion, a price-to-earnings ratio of -15.81 and a beta of 1.18. 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 $202.10 and a two-hundred day moving average price of $214.26.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The firm had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. During the same period in the previous year, the business earned ($10.44) earnings per share. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Dana S. Deasy purchased 554 shares of Boeing stock in a transaction dated Monday, November 24th. The stock was bought at an average price of $178.88 per share, with a total value of $99,099.52. Following the completion of the acquisition, the senior vice president owned 28,442 shares in the company, valued at $5,087,704.96. The trade was a 1.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Uma M. Amuluru sold 1,366 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the transaction, the executive vice president owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their position. The SEC filing for this sale provides additional information. 0.09% of the stock is owned by corporate insiders.

Boeing Profile

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.