WNY Asset Management LLC Lowers Stock Position in The Boeing Company $BA

WNY Asset Management LLC cut its holdings in shares of The Boeing Company (NYSE:BA) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,127 shares of the aircraft producer’s stock after selling 360 shares during the quarter. WNY Asset Management LLC’s holdings in Boeing were worth $655,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after acquiring an additional 1,212,327 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Boeing by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock worth $715,979,000 after purchasing an additional 19,615 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Boeing by 3.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock worth $500,247,000 after purchasing an additional 91,707 shares during the last quarter. Swiss National Bank grew its holdings in shares of Boeing by 2.5% in the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock worth $359,895,000 after purchasing an additional 51,700 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Boeing by 2.3% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,014,928 shares of the aircraft producer’s stock worth $422,188,000 after purchasing an additional 46,180 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares of the company’s stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the transaction, the director owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.09% of the stock is owned by insiders.

Boeing Trading Up 0.3%

Shares of BA stock opened at $223.60 on Wednesday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock has a market cap of $169.08 billion, a PE ratio of -13.54 and a beta of 1.47. The company’s fifty day moving average price is $221.46 and its 200-day moving average price is $211.77.

Boeing (NYSE:BA) last announced its earnings results 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 firm had revenue of $22.75 billion for the quarter, compared to analysts’ expectations of $20.13 billion. The company’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.90) EPS. On average, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Sanford C. Bernstein raised their target price on shares of Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Bank of America lifted their price target on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. Jefferies Financial Group set a $255.00 price target on shares of Boeing in a report on Tuesday, September 30th. KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $242.32.

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.