Balboa Wealth Partners Sells 715 Shares of The Boeing Company $BA

Balboa Wealth Partners lessened its stake in The Boeing Company (NYSE:BA) by 5.1% in the second quarter, HoldingsChannel reports. The firm owned 13,306 shares of the aircraft producer’s stock after selling 715 shares during the period. Balboa Wealth Partners’ holdings in Boeing were worth $2,788,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new stake in Boeing in the second quarter valued at about $25,000. Piscataqua Savings Bank increased its holdings in Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares during the last quarter. Monetary Management Group Inc. increased its holdings in Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after purchasing an additional 50 shares during the last quarter. Keener Financial Planning LLC bought a new stake in Boeing in the second quarter valued at about $41,000. Finally, Dogwood Wealth Management LLC increased its holdings in Boeing by 30.4% in the second quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer’s stock valued at $52,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Insider Activity at Boeing

In related news, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Boeing Price Performance

BA stock opened at $213.09 on Monday. The stock has a market capitalization of $161.13 billion, a P/E ratio of -12.91 and a beta of 1.47. The business has a 50-day moving average of $223.10 and a 200-day moving average of $208.23. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the prior year, the company earned ($2.90) earnings per share. Boeing’s revenue for the quarter was up 34.9% compared to the same quarter last year. Equities analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Bank of America increased their price target on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Sanford C. Bernstein increased their price target on Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $250.00 price target on shares of Boeing in a report on Monday, September 29th. Finally, Citigroup restated a “buy” rating on shares of Boeing in a report on Monday, July 28th. 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 issued a Sell rating to the company. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.20.

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.