Econ Financial Services Corp Takes $2.21 Million Position in The Boeing Company $BA

Econ Financial Services Corp purchased a new position in shares of The Boeing Company (NYSE:BAFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,156 shares of the aircraft producer’s stock, valued at approximately $2,205,000.

Several other large investors have also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC purchased a new stake in Boeing in the 3rd quarter valued at approximately $25,000. Reyes Financial Architecture Inc. purchased a new position in shares of Boeing during the 3rd quarter worth approximately $32,000. Davis Capital Management purchased a new position in shares of Boeing during the 3rd quarter worth approximately $33,000. Game Plan Financial Advisors LLC lifted its holdings in shares of Boeing by 650.0% in the 4th quarter. Game Plan Financial Advisors LLC now owns 150 shares of the aircraft producer’s stock valued at $33,000 after buying an additional 130 shares during the period. Finally, Howard Hughes Medical Institute purchased a new stake in shares of Boeing in the second quarter valued at approximately $34,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,230 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were purchased at an average cost of $224.20 per share, with a total value of $499,966.00. Following the purchase, the director owned 4,430 shares in the company, valued at approximately $993,206. The trade was a 101.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Ann M. Schmidt sold 6,281 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $243.37, for a total transaction of $1,528,606.97. Following the transaction, the senior vice president owned 13,978 shares of the company’s stock, valued at $3,401,825.86. This trade represents a 31.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,012 shares of company stock valued at $4,980,687 in the last quarter. Insiders own 0.10% of the company’s stock.

Boeing Stock Performance

Shares of BA stock opened at $199.03 on Wednesday. The stock has a fifty day moving average price of $225.74 and a 200 day moving average price of $216.59. The stock has a market cap of $156.31 billion, a PE ratio of 99.02 and a beta of 1.14. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $254.35. The company has a debt-to-equity ratio of 8.37, a quick ratio of 0.40 and a current ratio of 1.19.

Boeing (NYSE:BAGet Free Report) last posted its earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share for the quarter, beating the consensus estimate of ($0.40) by $10.32. The firm had revenue of $23.95 billion during the quarter, compared to analyst estimates of $22.41 billion. During the same period last year, the company posted ($5.90) EPS. The firm’s revenue for the quarter was up 57.1% on a year-over-year basis. Sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Key Boeing News

Here are the key news stories impacting Boeing this week:

Analysts Set New Price Targets

BA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Boeing from $245.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Susquehanna restated a “positive” rating and set a $280.00 target price on shares of Boeing in a research report on Thursday, January 15th. Morgan Stanley set a $245.00 price target on shares of Boeing in a research note on Wednesday, January 28th. Argus upgraded shares of Boeing to a “hold” rating in a report on Monday, February 2nd. Finally, TD Cowen reiterated a “buy” rating on shares of Boeing in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus price target of $248.86.

Check Out Our Latest Research Report on Boeing

Boeing Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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