The Boeing Company $BA Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its stake in The Boeing Company (NYSE:BA) by 2.6% in the 2nd quarter, Holdings Channel reports. The firm owned 1,206,862 shares of the aircraft producer’s stock after selling 31,799 shares during the quarter. Rhumbline Advisers’ holdings in Boeing were worth $252,874,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. AlphaCore Capital LLC increased its holdings in Boeing by 47.6% in the second quarter. AlphaCore Capital LLC now owns 4,908 shares of the aircraft producer’s stock valued at $1,028,000 after buying an additional 1,582 shares in the last quarter. Mufg Securities Americas Inc. grew its holdings in shares of Boeing by 25.9% in the 2nd quarter. Mufg Securities Americas Inc. now owns 16,711 shares of the aircraft producer’s stock worth $3,501,000 after acquiring an additional 3,434 shares during the period. Evelyn Partners Investment Management Services Ltd increased its stake in Boeing by 648.1% in the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 1,369 shares of the aircraft producer’s stock valued at $287,000 after purchasing an additional 1,186 shares in the last quarter. Evelyn Partners Investment Management LLP raised its holdings in Boeing by 3,198.9% during the second quarter. Evelyn Partners Investment Management LLP now owns 2,870 shares of the aircraft producer’s stock worth $601,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Sfmg LLC boosted its position in Boeing by 13.4% during the second quarter. Sfmg LLC now owns 3,355 shares of the aircraft producer’s stock worth $703,000 after purchasing an additional 396 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

Boeing stock opened at $179.58 on Friday. The stock has a market capitalization of $136.50 billion, a P/E ratio of -13.13 and a beta of 1.44. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The firm’s 50-day moving average is $208.90 and its two-hundred day moving average is $214.49.

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 for the quarter, compared to analyst estimates of $21.61 billion. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the firm earned ($10.44) earnings per share. As a group, analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity at Boeing

In other news, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the sale, the executive vice president owned 14,656 shares of the company’s stock, valued at $2,896,904.96. The trade was a 8.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BA. Susquehanna dropped their price target on Boeing from $270.00 to $255.00 and set a “positive” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Boeing in a research note on Wednesday, October 8th. Loop Capital set a $223.00 target price on shares of Boeing in a report on Monday, November 3rd. BNP Paribas set a $150.00 price target on shares of Boeing in a report on Tuesday. Finally, Bank of America raised their price objective on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. 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 six have issued a Sell rating to the stock. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $232.09.

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.