The Boeing Company (NYSE:BA) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its holdings in shares of The Boeing Company (NYSE:BA) by 1,401.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,778 shares of the aircraft producer’s stock after acquiring an additional 2,593 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Boeing were worth $506,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BA. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Boeing in the 4th quarter valued at approximately $26,000. Vima LLC bought a new position in Boeing during the 4th quarter valued at $34,000. Accent Capital Management LLC bought a new stake in shares of Boeing in the 4th quarter worth about $39,000. Hobbs Group Advisors LLC bought a new stake in shares of Boeing in the 2nd quarter worth about $34,000. Finally, McClarren Financial Advisors Inc. raised its stake in shares of Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

NYSE BA opened at $155.87 on Wednesday. The company has a market capitalization of $95.69 billion, a P/E ratio of -43.91 and a beta of 1.57. The Boeing Company has a 12 month low of $151.65 and a 12 month high of $267.54. The company’s 50 day simple moving average is $170.15 and its 200 day simple moving average is $176.78.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the prior year, the company earned ($0.82) earnings per share. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, analysts anticipate that The Boeing Company will post -4.26 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on BA shares. Bank of America boosted their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Sanford C. Bernstein decreased their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $225.00 price target on shares of Boeing in a research report on Tuesday, June 25th. Wells Fargo & Company reissued an “underweight” rating and issued a $119.00 price target (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group decreased their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $209.83.

Boeing 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.