Summit Financial Wealth Advisors LLC reduced its position in shares of The Boeing Company (NYSE:BA – Free Report) by 22.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,145 shares of the aircraft producer’s stock after selling 614 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Boeing were worth $453,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of BA. BlackRock Inc. lifted its holdings in Boeing by 8.1% in the 1st quarter. BlackRock Inc. now owns 35,950,526 shares of the aircraft producer’s stock worth $7,636,970,000 after buying an additional 2,682,272 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in shares of Boeing by 109,667.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock valued at $3,058,456,000 after acquiring an additional 16,041,103 shares in the last quarter. Geode Capital Management LLC lifted its stake in Boeing by 2.3% in the first quarter. Geode Capital Management LLC now owns 9,908,984 shares of the aircraft producer’s stock worth $2,099,342,000 after acquiring an additional 224,280 shares during the period. Morgan Stanley boosted its holdings in Boeing by 11.7% in the fourth quarter. Morgan Stanley now owns 8,321,871 shares of the aircraft producer’s stock valued at $1,585,234,000 after acquiring an additional 872,795 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Boeing by 734.7% during the 1st quarter. Fisher Asset Management LLC now owns 4,359,740 shares of the aircraft producer’s stock valued at $926,140,000 after purchasing an additional 3,837,422 shares during the period. 61.33% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently commented on BA. StockNews.com began coverage on shares of Boeing in a research report on Thursday, August 17th. They issued a “hold” rating for the company. SpectralCast reaffirmed a “reiterates” rating on shares of Boeing in a research report on Wednesday, June 21st. JPMorgan Chase & Co. increased their target price on Boeing from $225.00 to $245.00 in a research report on Thursday, July 27th. TD Cowen lifted their price target on Boeing from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, August 28th. Finally, Bank of America upgraded Boeing from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $225.00 to $300.00 in a report on Thursday, July 27th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.13.
Insider Transactions at Boeing
In related news, Director Steven M. Mollenkopf acquired 850 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were bought 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 directly owns 3,767 shares in the company, valued at $892,779. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Theodore Colbert III sold 8,500 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $238.37, for a total transaction of $2,026,145.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven M. Mollenkopf acquired 850 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average cost of $237.00 per share, for a total transaction of $201,450.00. Following the acquisition, the director now owns 3,767 shares of the company’s stock, valued at approximately $892,779. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company’s stock.
Boeing Stock Performance
BA stock traded down $0.67 during midday trading on Tuesday, hitting $204.45. The company’s stock had a trading volume of 700,949 shares, compared to its average volume of 5,612,979. The firm’s 50-day moving average is $223.54 and its 200-day moving average is $213.09. The Boeing Company has a 12 month low of $120.99 and a 12 month high of $243.10.
Boeing (NYSE:BA – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The aircraft producer reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.17. The business had revenue of $19.75 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the previous year, the company earned ($0.37) earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, research analysts forecast that The Boeing Company will post -2.83 earnings per share for the current fiscal year.
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.
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