Corebridge Financial Inc. Sells 4,523 Shares of The Boeing Company $BA

Corebridge Financial Inc. cut its position in The Boeing Company (NYSE:BA) by 2.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 167,293 shares of the aircraft producer’s stock after selling 4,523 shares during the period. Corebridge Financial Inc.’s holdings in Boeing were worth $28,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in BA. Revolve Wealth Partners LLC acquired a new position in Boeing in the 4th quarter valued at $201,000. Bank Pictet & Cie Europe AG acquired a new position in Boeing in the 4th quarter valued at $7,837,000. Capital Analysts LLC raised its holdings in Boeing by 2.2% in the 4th quarter. Capital Analysts LLC now owns 17,534 shares of the aircraft producer’s stock valued at $3,103,000 after acquiring an additional 383 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in Boeing by 11.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 21,626 shares of the aircraft producer’s stock valued at $3,828,000 after acquiring an additional 2,145 shares in the last quarter. Finally, Johnson Financial Group Inc. raised its holdings in Boeing by 19.5% in the 4th quarter. Johnson Financial Group Inc. now owns 1,224 shares of the aircraft producer’s stock valued at $216,000 after acquiring an additional 200 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Insider Transactions at Boeing

In other news, Director Mortimer J. Buckley bought 2,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the acquisition, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Boeing Stock Performance

Boeing stock opened at $229.7750 on Monday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The stock has a market capitalization of $173.75 billion, a P/E ratio of -13.92 and a beta of 1.48. The stock has a fifty day moving average of $221.17 and a 200-day moving average of $194.40.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the prior year, the business earned ($2.90) earnings per share. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

BA has been the subject of several analyst reports. Susquehanna lifted their price objective on Boeing from $265.00 to $270.00 and gave the company a “positive” rating in a report on Wednesday, July 30th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. UBS Group set a $280.00 price objective on Boeing and gave the company a “buy” rating in a report on Wednesday, July 30th. Jefferies Financial Group boosted their price target on Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Finally, Wall Street Zen cut Boeing from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $228.90.

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 Commercial Airplanes; Defense, Space & Security; and Global Services segments.