Valeo Financial Advisors LLC Cuts Stock Holdings in The Boeing Company $BA

Valeo Financial Advisors LLC trimmed its stake in The Boeing Company (NYSE:BA) by 50.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,678 shares of the aircraft producer’s stock after selling 26,943 shares during the period. Valeo Financial Advisors LLC’s holdings in Boeing were worth $5,590,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Harbor Asset Planning Inc. bought a new stake in shares of Boeing during the 2nd quarter worth $25,000. Piscataqua Savings Bank raised its position in Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares in the last quarter. Howard Hughes Medical Institute purchased a new stake in Boeing during the second quarter valued at about $34,000. Decker Retirement Planning Inc. bought a new stake in Boeing during the second quarter worth about $35,000. Finally, IMG Wealth Management Inc. boosted its holdings in shares of Boeing by 159.4% in the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock worth $38,000 after purchasing an additional 110 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Shares of Boeing stock opened at $204.33 on Monday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The company’s 50 day moving average price is $202.82 and its 200-day moving average price is $214.20. The stock has a market capitalization of $155.31 billion, a price-to-earnings ratio of -14.94 and a beta of 1.18.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The business had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($10.44) earnings per share. As a group, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BA shares. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and raised their price objective for the company from $242.00 to $270.00 in a report on Monday, September 8th. UBS Group reissued a “buy” rating on shares of Boeing in a research note on Wednesday. Susquehanna lowered their price objective on shares of Boeing from $270.00 to $255.00 and set a “positive” rating for the company in a report on Wednesday, November 12th. New Street Research set a $257.00 target price on shares of Boeing in a report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Boeing from $251.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $232.96.

Insider Transactions at Boeing

In other Boeing news, SVP Dana S. Deasy purchased 554 shares of the stock in a transaction on Monday, November 24th. The stock was acquired at an average price of $178.88 per share, with a total value of $99,099.52. Following the transaction, the senior vice president directly owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. This trade represents a 1.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the sale, the executive vice president owned 14,656 shares in the company, valued at approximately $2,896,904.96. This represents a 8.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.09% of the company’s stock.

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.