Narwhal Capital Management Sells 409 Shares of The Boeing Company $BA

Narwhal Capital Management decreased its position in shares of The Boeing Company (NYSE:BA) by 12.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,818 shares of the aircraft producer’s stock after selling 409 shares during the quarter. Narwhal Capital Management’s holdings in Boeing were worth $590,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Piscataqua Savings Bank raised its holdings in Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 137 shares during the last quarter. Proathlete Wealth Management LLC bought a new position in Boeing during the 1st quarter worth approximately $34,000. Monetary Management Group Inc. raised its holdings in 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 purchasing an additional 50 shares during the last quarter. Columbia River Financial Group LLC bought a new position in Boeing during the 1st quarter worth approximately $50,000. Finally, Iron Horse Wealth Management LLC raised its holdings in Boeing by 33.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer’s stock worth $51,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BA. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a “buy” rating in a report on Thursday, June 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a research report on Wednesday. Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and raised their price objective for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Sanford C. Bernstein raised their price objective on shares of Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Finally, Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and raised their price objective for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. 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 three have issued a Sell rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $233.91.

Boeing Trading Up 1.6%

NYSE BA opened at $225.26 on Thursday. The company has a fifty day simple moving average of $224.61 and a 200 day simple moving average of $205.75. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The company has a market cap of $170.33 billion, a P/E ratio of -13.64 and a beta of 1.47.

Boeing (NYSE:BA) last posted 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 company had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. During the same period in the prior year, the firm posted ($2.90) earnings per share. The company’s revenue for the quarter was up 34.9% compared to the same quarter last year. Sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction that occurred 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 transaction, the director owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, 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. Company 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.