GM Advisory Group LLC Reduces Stock Holdings in The Boeing Company $BA

GM Advisory Group LLC lessened its holdings in shares of The Boeing Company (NYSE:BA) by 36.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,172 shares of the aircraft producer’s stock after selling 1,270 shares during the period. GM Advisory Group LLC’s holdings in Boeing were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new position in shares of Boeing during the 4th quarter valued at about $568,000. Alyeska Investment Group L.P. purchased a new stake in shares of Boeing in the fourth quarter worth about $526,889,000. Zimmer Partners LP acquired a new stake in Boeing during the fourth quarter worth about $393,736,000. Northern Trust Corp lifted its holdings in Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after acquiring an additional 1,634,231 shares during the period. Finally, Sculptor Capital LP purchased a new stake in Boeing in the 4th quarter worth approximately $265,500,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP David Christopher Raymond sold 3,771 shares of the business’s 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 completion of the sale, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BA shares. JPMorgan Chase & Co. lifted their target price on shares of Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Cowen reaffirmed a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the company a “buy” rating in a research note on Thursday, June 12th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $228.90.

Boeing Stock Up 0.1%

BA stock opened at $225.3060 on Thursday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The firm has a 50-day simple moving average of $220.17 and a 200-day simple moving average of $193.55. The stock has a market capitalization of $170.37 billion, a P/E ratio of -13.65 and a beta of 1.48.

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

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.