The Boeing Company $BA Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA lessened its stake in shares of The Boeing Company (NYSE:BA) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,131 shares of the aircraft producer’s stock after selling 353 shares during the period. Jacobs & Co. CA’s holdings in Boeing were worth $12,180,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vestcor Inc raised its position in shares of Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock worth $2,471,000 after purchasing an additional 1,195 shares during the last quarter. National Pension Service raised its position in shares of Boeing by 19.6% during the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock worth $227,365,000 after purchasing an additional 218,049 shares during the last quarter. Wynn Capital LLC acquired a new position in shares of Boeing during the 1st quarter worth about $584,000. Zimmer Partners LP acquired a new position in shares of Boeing during the 4th quarter worth about $393,736,000. Finally, MFG Wealth Management Inc. acquired a new stake in Boeing in the 1st quarter valued at about $2,125,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

Boeing stock opened at $216.12 on Friday. The firm has a 50 day simple moving average of $228.76 and a 200-day simple moving average of $199.21. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The stock has a market cap of $163.42 billion, a price-to-earnings ratio of -13.09 and a beta of 1.48.

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

Wall Street Analyst Weigh In

A number of research firms have commented on BA. KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Bank of America increased their price objective on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and increased their price objective for the company from $242.00 to $270.00 in a report on Monday, September 8th. Barclays increased their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Susquehanna increased their price objective on shares of Boeing from $265.00 to $270.00 and gave the company a “positive” rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $230.77.

Insider Activity at Boeing

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

About Boeing

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.