Los Angeles Capital Management LLC Cuts Position in The Boeing Company $BA

Los Angeles Capital Management LLC lessened its position in The Boeing Company (NYSE:BA – Free Report) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,496 shares of the aircraft producer’s stock after selling 300 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Boeing were worth $1,361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new position in shares of Boeing during the 2nd quarter valued at about $378,459,000. Vanguard Group Inc. boosted its stake in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after buying an additional 1,212,327 shares in the last quarter. Bessemer Group Inc. grew its position in Boeing by 3,581.5% during the second quarter. Bessemer Group Inc. now owns 711,824 shares of the aircraft producer’s stock valued at $149,149,000 after acquiring an additional 692,489 shares during the last quarter. Strs Ohio bought a new position in Boeing during the first quarter valued at approximately $98,984,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of Boeing by 243.8% during the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock worth $128,689,000 after acquiring an additional 535,060 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Insider Activity

In other news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were 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 directly owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, the director directly owned 2,200 shares of the company’s stock, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BA. Barclays upped their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and upped their price target for the company from $242.00 to $270.00 in a research report on Monday, September 8th. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.05.

View Our Latest Analysis on BA

Boeing Stock Performance

BA opened at $195.63 on Thursday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The stock has a market capitalization of $148.70 billion, a PE ratio of -14.30 and a beta of 1.44. The stock’s 50 day moving average price is $214.27 and its 200-day moving average price is $214.50.

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

About Boeing

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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.

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