Boeing (NYSE:BA) EVP David Christopher Raymond Sells 2,994 Shares of Stock

The Boeing Company (NYSE:BA) EVP David Raymond sold 2,994 shares of Boeing stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $174.91, for a total value of $523,680.54. Following the completion of the sale, the executive vice president directly owned 38,456 shares in the company, valued at $6,726,338.96. This trade represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Boeing Price Performance

Shares of NYSE:BA traded down $3.01 during mid-day trading on Thursday, reaching $171.53. The stock had a trading volume of 6,006,460 shares, compared to its average volume of 7,167,041. The company has a current ratio of 1.13, a quick ratio of 0.34 and a debt-to-equity ratio of 6.31. The company has a market cap of $135.93 billion, a P/E ratio of 18.66 and a beta of 1.34. The Boeing Company has a 1 year low of $165.01 and a 1 year high of $254.35. The business’s 50 day moving average price is $190.33 and its 200 day moving average price is $214.25.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.09). The firm had revenue of $24.19 billion for the quarter, compared to analysts’ expectations of $23.95 billion. Boeing had a net margin of 7.98% and a negative return on equity of 42.40%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($7.47) EPS. Research analysts expect that The Boeing Company will post -1.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

Institutional investors and hedge funds have recently modified their holdings of the stock. Jupiter Topco LLC purchased a new stake in Boeing during the 2nd quarter valued at $911,878,000. Bank of New York Mellon Corp purchased a new position in Boeing during the second quarter worth $747,763,000. Legal & General Group Plc bought a new position in Boeing during the second quarter valued at $710,816,000. Deutsche Bank AG bought a new position in Boeing during the second quarter valued at $539,456,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Boeing in the second quarter valued at $441,997,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group cut their target price on shares of Boeing from $275.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Zacks Research downgraded shares of Boeing from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Deutsche Bank increased their price objective on shares of Boeing from $244.00 to $248.00 and gave the company a “hold” rating in a research report on Wednesday, July 29th. Argus raised shares of Boeing from a “hold” rating to a “buy” rating and set a $265.00 price objective for the company in a research note on Tuesday, August 11th. Finally, Roth Capital downgraded shares of Boeing to a “neutral” rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $247.88.

More Boeing News

Investors following BA have been watching these news items:

• Positive Sentiment: A bullish long-term scenario says Boeing’s goal of generating $10 billion in free cash flow in 2029, alongside production and certification milestones, could support substantial share-price gains. That upside depends on execution. Article: $500 Invested in Boeing Today Could Be Worth This Much in 3 Years
• Neutral Sentiment: A law firm announced an investigation into possible securities-law violations involving Boeing. The announcement does not establish wrongdoing, but adds a potential legal and reputational overhang for investors. Article: Kaplan Fox Announces an Investigation
• Negative Sentiment: Safety inspectors are calling for more contact with the factory floor as Boeing works to change its safety culture. The renewed focus may reinforce concerns about manufacturing oversight and the pace of recovery. Article: Safety Inspectors Call for More Factory-Floor Contact

Boeing Company Profile

The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world. Boeing’s defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.