Herbst Group LLC Trims Holdings in The Boeing Company (NYSE:BA)

Herbst Group LLC lessened its holdings in shares of The Boeing Company (NYSE:BA) by 2.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 16,100 shares of the aircraft producer’s stock after selling 400 shares during the quarter. Boeing makes up approximately 2.3% of Herbst Group LLC’s holdings, making the stock its 14th largest holding. Herbst Group LLC’s holdings in Boeing were worth $3,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Boeing in the fourth quarter valued at $25,000. Steward Financial Group LLC acquired a new stake in shares of Boeing during the fourth quarter worth about $30,000. M&R Capital Management Inc. increased its holdings in shares of Boeing by 90.7% in the second quarter. M&R Capital Management Inc. now owns 143 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 68 shares during the period. Raleigh Capital Management Inc. increased its holdings in shares of Boeing by 48.5% in the first quarter. Raleigh Capital Management Inc. now owns 153 shares of the aircraft producer’s stock valued at $33,000 after purchasing an additional 50 shares during the period. Finally, True Wealth Design LLC acquired a new position in shares of Boeing in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 61.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BA. TD Cowen boosted their price target on shares of Boeing from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, August 28th. Jefferies Financial Group upped their price objective on Boeing from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, July 31st. SpectralCast reaffirmed a “reiterates” rating on shares of Boeing in a report on Wednesday, June 21st. JPMorgan Chase & Co. upped their price objective on Boeing from $225.00 to $245.00 in a report on Thursday, July 27th. Finally, Wells Fargo & Company upped their price objective on Boeing from $250.00 to $270.00 in a report on Tuesday, August 8th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and an average price target of $245.13.

Boeing Stock Down 0.4 %

Shares of Boeing stock traded down $0.75 on Tuesday, reaching $204.37. 768,901 shares of the company were exchanged, compared to its average volume of 5,612,979. The company’s 50-day moving average is $223.54 and its two-hundred day moving average is $213.09. The Boeing Company has a 1-year low of $120.99 and a 1-year high of $243.10.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 26th. The aircraft producer reported ($0.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.17. The company had revenue of $19.75 billion for the quarter, compared to analyst estimates of $18.59 billion. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.37) earnings per share. Equities research analysts forecast that The Boeing Company will post -2.83 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Theodore Colbert III sold 8,500 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $238.37, for a total value of $2,026,145.00. Following the sale, the chief executive officer now owns 59,255 shares of the company’s stock, valued at approximately $14,124,614.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Theodore Colbert III sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total value of $2,026,145.00. Following the sale, the chief executive officer now directly owns 59,255 shares in the company, valued at approximately $14,124,614.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven M. Mollenkopf bought 850 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of $237.00 per share, for a total transaction of $201,450.00. Following the completion of the transaction, the director now owns 3,767 shares in the company, valued at $892,779. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.

Boeing Company 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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.