Godsey & Gibb Inc. Reduces Stock Position in The Boeing Company $BA

Godsey & Gibb Inc. lowered its stake in shares of The Boeing Company (NYSE:BA) by 56.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 167 shares of the aircraft producer’s stock after selling 214 shares during the quarter. Godsey & Gibb Inc.’s holdings in Boeing were worth $35,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Piscataqua Savings Bank lifted its position in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after acquiring an additional 137 shares during the period. Proathlete Wealth Management LLC purchased a new stake in Boeing during the 1st quarter worth $34,000. Monetary Management Group Inc. boosted its position 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 period. Dogwood Wealth Management LLC boosted its position in Boeing by 30.4% in the 2nd quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer’s stock valued at $52,000 after buying an additional 56 shares during the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Boeing in the second quarter worth about $61,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BA shares. Bank of America upped their target price on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Sanford C. Bernstein increased their target price 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. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a report on Saturday, September 27th. JPMorgan Chase & Co. raised their target price on shares of Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a “buy” rating in a research report on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.91.

Insider Activity at Boeing

In related news, 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 value of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mortimer J. Buckley acquired 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, for a total transaction of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Boeing Trading Up 1.5%

Shares of BA stock opened at $219.62 on Tuesday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm’s fifty day moving average price is $224.72 and its two-hundred day moving average price is $205.50. The firm has a market capitalization of $166.07 billion, a P/E ratio of -13.30 and a beta of 1.47.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) 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. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.90) EPS. As a group, equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.