The Boeing Company $BA Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 24.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 4,290 shares of the aircraft producer’s stock after selling 1,396 shares during the quarter. Naviter Wealth LLC’s holdings in Boeing were worth $899,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC boosted its holdings in shares of Boeing by 6.7% in the 2nd quarter. Axxcess Wealth Management LLC now owns 23,186 shares of the aircraft producer’s stock valued at $4,858,000 after buying an additional 1,461 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Boeing by 14.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,849 shares of the aircraft producer’s stock valued at $5,207,000 after buying an additional 3,125 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Boeing by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 65,051 shares of the aircraft producer’s stock valued at $13,630,000 after buying an additional 300 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Boeing by 14.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 38,283 shares of the aircraft producer’s stock valued at $8,021,000 after buying an additional 4,847 shares during the period. Finally, Vest Financial LLC boosted its holdings in shares of Boeing by 39.2% in the 2nd quarter. Vest Financial LLC now owns 15,700 shares of the aircraft producer’s stock valued at $3,290,000 after buying an additional 4,425 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BA. KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Susquehanna reiterated a “positive” rating and issued a $270.00 price objective on shares of Boeing in a research report on Monday, September 15th. Sanford C. Bernstein lifted their price objective on shares of Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Finally, Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and lifted their price objective for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $240.20.

Boeing Price Performance

Shares of BA opened at $214.31 on Wednesday. The firm’s 50 day moving average is $223.95 and its 200-day moving average is $206.92. The stock has a market capitalization of $162.05 billion, a P/E ratio of -12.98 and a beta of 1.47. The Boeing Company has a 12-month low of $128.88 and a 12-month 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 for the quarter, compared to the consensus estimate of $20.13 billion. Boeing’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.90) earnings per share. As a group, equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity at Boeing

In other 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 value of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares of the company’s stock, valued at $497,420. This 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 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.