Clear Creek Financial Management LLC Sells 5,063 Shares of The Boeing Company $BA

Clear Creek Financial Management LLC lowered its position in The Boeing Company (NYSE:BA) by 33.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,989 shares of the aircraft producer’s stock after selling 5,063 shares during the period. Clear Creek Financial Management LLC’s holdings in Boeing were worth $2,093,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. WoodTrust Financial Corp raised its stake in shares of Boeing by 503.6% in the second quarter. WoodTrust Financial Corp now owns 8,637 shares of the aircraft producer’s stock valued at $1,809,000 after acquiring an additional 7,206 shares during the period. Matisse Capital purchased a new stake in shares of Boeing in the second quarter valued at $886,000. Winthrop Advisory Group LLC raised its stake in shares of Boeing by 6.0% in the second quarter. Winthrop Advisory Group LLC now owns 2,975 shares of the aircraft producer’s stock valued at $623,000 after acquiring an additional 169 shares during the period. Secured Retirement Advisors LLC raised its stake in shares of Boeing by 54.5% in the second quarter. Secured Retirement Advisors LLC now owns 5,907 shares of the aircraft producer’s stock valued at $1,238,000 after acquiring an additional 2,084 shares during the period. Finally, Pure Portfolios Holdings LLC raised its stake in shares of Boeing by 11.7% in the second quarter. Pure Portfolios Holdings LLC now owns 2,769 shares of the aircraft producer’s stock valued at $580,000 after acquiring an additional 290 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.6%

BA opened at $225.26 on Thursday. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The business’s fifty day simple moving average is $224.61 and its 200-day simple moving average is $205.75. The company has a market capitalization of $170.33 billion, a price-to-earnings 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 analysts’ consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. During the same quarter last year, the firm earned ($2.90) earnings per share. The company’s quarterly revenue was up 34.9% on a year-over-year basis. On average, equities research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BA. Bank of America increased their target price 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. Sanford C. Bernstein upped their price objective on Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a research report on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a research report on Monday, September 29th. Finally, Rothschild & Co Redburn raised Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective on the stock in a research report on Friday, June 27th. Three equities research 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 issued a Sell rating to the stock. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $233.91.

Insiders Place Their Bets

In related news, Director Mortimer J. Buckley acquired 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director directly owned 2,200 shares of the company’s stock, valued at $497,420. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

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.