The Boeing Company $BA Stake Cut by JFS Wealth Advisors LLC

JFS Wealth Advisors LLC cut its position in shares of The Boeing Company (NYSE:BA) by 10.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,947 shares of the aircraft producer’s stock after selling 461 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Boeing were worth $827,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BA. Piscataqua Savings Bank lifted its stake in Boeing by 1,712.5% during the second 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 first quarter worth $34,000. Monetary Management Group Inc. increased its position in Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after buying an additional 50 shares during the period. Columbia River Financial Group LLC acquired a new stake in Boeing in the first quarter worth $50,000. Finally, Iron Horse Wealth Management LLC increased its position in Boeing by 33.8% in the first quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer’s stock worth $51,000 after buying an additional 75 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Down 2.3%

NYSE:BA opened at $211.04 on Friday. The business’s 50-day moving average price is $224.29 and its 200 day moving average price is $206.38. The firm has a market cap of $159.58 billion, a P/E ratio of -12.78 and a beta of 1.47. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

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

Insider Transactions at Boeing

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

Analyst Ratings Changes

BA has been the topic of several analyst reports. Bank of America increased their target price on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Barclays increased their target price on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and increased their target price for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 target price 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 target price 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and an average target price of $233.91.

Boeing 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.