Bridges Investment Management Inc. Sells 102 Shares of The Boeing Company $BA

Bridges Investment Management Inc. decreased its position in shares of The Boeing Company (NYSE:BA) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,774 shares of the aircraft producer’s stock after selling 102 shares during the quarter. Bridges Investment Management Inc.’s holdings in Boeing were worth $3,096,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BA. Revolve Wealth Partners LLC bought a new position in Boeing in the fourth quarter worth approximately $201,000. GAMMA Investing LLC increased its holdings in shares of Boeing by 13.9% in the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer’s stock valued at $998,000 after acquiring an additional 716 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Boeing in the 1st quarter valued at $24,207,000. Grove Bank & Trust raised its position in shares of Boeing by 72.5% in the 1st quarter. Grove Bank & Trust now owns 1,149 shares of the aircraft producer’s stock worth $196,000 after acquiring an additional 483 shares in the last quarter. Finally, Chicago Capital LLC lifted its stake in shares of Boeing by 101.2% during the 1st quarter. Chicago Capital LLC now owns 9,531 shares of the aircraft producer’s stock worth $1,626,000 after purchasing an additional 4,793 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred on Friday, August 8th. The shares were 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of the business’s stock in a transaction dated 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 purchase, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $214.08 on Thursday. The stock has a 50-day moving average of $223.73 and a two-hundred day moving average of $206.97. The stock has a market cap of $161.88 billion, a P/E ratio of -12.97 and a beta of 1.47. The Boeing Company has a one year low of $128.88 and a one year high of $242.69.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same period last year, the firm posted ($2.90) EPS. The firm’s revenue was up 34.9% on a year-over-year basis. Analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BA shares. 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. Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and lifted their price target for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Barclays upped their price target on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Susquehanna reissued a “positive” rating and issued a $270.00 price objective on shares of Boeing in a research report on Monday, September 15th. Finally, Vertical Research raised Boeing from a “hold” rating to a “buy” rating and upped their target price for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $240.20.

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.