Mitsubishi UFJ Asset Management UK Ltd. Sells 11,500 Shares of The Boeing Company $BA

Mitsubishi UFJ Asset Management UK Ltd. reduced its holdings in The Boeing Company (NYSE:BA) by 60.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,500 shares of the aircraft producer’s stock after selling 11,500 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Boeing were worth $1,571,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Aspire Capital Advisors LLC grew its stake in Boeing by 0.8% during the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock worth $1,245,000 after buying an additional 45 shares in the last quarter. Lantz Financial LLC raised its position in shares of Boeing by 1.5% in the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock valued at $644,000 after buying an additional 46 shares in the last quarter. Atlas Brown Inc. lifted its holdings in shares of Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock worth $1,362,000 after acquiring an additional 48 shares during the period. Moody National Bank Trust Division boosted its position in shares of Boeing by 2.7% during the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer’s stock worth $385,000 after acquiring an additional 48 shares in the last quarter. Finally, Monetary Management Group Inc. boosted its position in shares of Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after acquiring an additional 50 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 $215.88 on Wednesday. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The company has a market cap of $163.24 billion, a PE ratio of -13.08 and a beta of 1.48. The firm’s 50 day simple moving average is $226.04 and its 200 day simple moving average is $203.92.

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

Insider Buying and Selling at Boeing

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Sanford C. Bernstein restated an “outperform” rating on shares of Boeing in a research note on Monday, July 14th. Susquehanna restated a “positive” rating and set a $270.00 price objective on shares of Boeing in a research report on Monday, September 15th. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and raised their price objective for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Barclays boosted their target price on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Finally, Bank of America raised their price target on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $231.00.

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.