Sculati Wealth Management LLC Lowers Stock Holdings in The Boeing Company $BA

Sculati Wealth Management LLC lessened its stake in The Boeing Company (NYSE:BA) by 2.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,774 shares of the aircraft producer’s stock after selling 283 shares during the period. Sculati Wealth Management LLC’s holdings in Boeing were worth $2,048,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BA. Vestcor Inc boosted its position in shares of Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock worth $2,471,000 after purchasing an additional 1,195 shares in the last quarter. National Pension Service boosted its holdings in Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock worth $227,365,000 after buying an additional 218,049 shares in the last quarter. Alpha Cubed Investments LLC grew its position in Boeing by 43.3% during the second quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock worth $754,000 after buying an additional 1,088 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new position in Boeing in the second quarter valued at about $62,859,000. Finally, Kelman Lazarov Inc. acquired a new stake in shares of Boeing during the 1st quarter valued at approximately $262,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Boeing from $251.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Loop Capital set a $223.00 price objective on shares of Boeing in a research note on Monday, November 3rd. Bank of America upped 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. Susquehanna lowered their price target on shares of Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group set a $255.00 price objective on Boeing in a research report on Tuesday, September 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $240.30.

Insider Transactions at Boeing

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares in the company, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Uma M. Amuluru sold 1,366 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the transaction, the executive vice president directly owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This represents a 8.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is currently owned by company insiders.

Boeing Stock Performance

Shares of BA opened at $194.45 on Friday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The company’s 50 day simple moving average is $212.85 and its 200 day simple moving average is $214.45. The company has a market capitalization of $147.80 billion, a price-to-earnings ratio of -14.21 and a beta of 1.44.

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

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.