Black Swift Group LLC Cuts Stake in The Boeing Company $BA

Black Swift Group LLC lessened its holdings in shares of The Boeing Company (NYSE:BA) by 17.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,000 shares of the aircraft producer’s stock after selling 1,024 shares during the quarter. Black Swift Group LLC’s holdings in Boeing were worth $1,048,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vestcor Inc grew its position in Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock valued at $2,471,000 after acquiring an additional 1,195 shares in the last quarter. National Pension Service grew its position in Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock valued at $227,365,000 after acquiring an additional 218,049 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Boeing in the second quarter valued at approximately $62,859,000. Kelman Lazarov Inc. acquired a new stake in Boeing in the first quarter valued at approximately $262,000. Finally, Vanguard Group Inc. grew its position in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA opened at $197.76 on Thursday. The business’s fifty day moving average price is $218.25 and its 200 day moving average price is $213.61. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The stock has a market capitalization of $150.32 billion, a PE ratio of -14.46 and a beta of 1.44.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. During the same quarter in the previous year, the business earned ($10.44) EPS. Boeing’s revenue was up 30.4% compared to the same quarter last year. As a group, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Bank of America raised their price target on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. decreased their price target on shares of Boeing from $251.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Finally, Zacks Research downgraded shares of Boeing from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 29th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.80.

Insider Buying and Selling at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the firm’s stock in a transaction on 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 in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares of the company’s stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.09% of the company’s stock.

Boeing Company 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.