The Boeing Company $BA Shares Sold by Equitable Trust Co.

Equitable Trust Co. trimmed its position in The Boeing Company (NYSE:BAFree Report) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,966 shares of the aircraft producer’s stock after selling 2,486 shares during the period. Equitable Trust Co.’s holdings in Boeing were worth $5,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new stake in Boeing during the 4th quarter worth about $201,000. GAMMA Investing LLC grew its position in Boeing by 13.9% during the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer’s stock worth $998,000 after purchasing an additional 716 shares during the period. Ritholtz Wealth Management grew its position in Boeing by 103.5% during the 1st quarter. Ritholtz Wealth Management now owns 10,062 shares of the aircraft producer’s stock worth $1,716,000 after purchasing an additional 5,117 shares during the period. Hengehold Capital Management LLC acquired a new stake in Boeing during the 1st quarter worth about $201,000. Finally, Good Life Advisors LLC grew its position in Boeing by 3.0% during the 1st quarter. Good Life Advisors LLC now owns 7,618 shares of the aircraft producer’s stock worth $1,299,000 after purchasing an additional 222 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BA has been the topic of several analyst reports. UBS Group set a $280.00 price target on Boeing and gave the stock a “buy” rating in a research report on Wednesday, July 30th. KGI Securities upgraded Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Bank of America lifted their price target on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, Barclays upped their target price on shares of Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $236.00.

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Boeing Price Performance

Shares of Boeing stock opened at $215.53 on Tuesday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The stock has a market cap of $162.98 billion, a P/E ratio of -13.05 and a beta of 1.47. The stock’s 50 day simple moving average is $224.15 and its 200-day simple moving average is $206.87.

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

Insider Buying and Selling

In related news, EVP David Christopher Raymond sold 3,771 shares of the company’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 value of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 acquired at an average price 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 of the company’s stock, valued at $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Boeing Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Boeing (NYSE:BA)

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