The Boeing Company $BA Shares Sold by HBK Sorce Advisory LLC

by · The Cerbat Gem

HBK Sorce Advisory LLC decreased its position in The Boeing Company (NYSE:BA – Free Report) by 15.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,897 shares of the aircraft producer’s stock after selling 1,450 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Boeing were worth $1,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new position in Boeing in the 2nd quarter valued at about $25,000. Piscataqua Savings Bank raised its stake in Boeing by 1,712.5% in the 2nd 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. IMG Wealth Management Inc. raised its stake in Boeing by 159.4% in the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after purchasing an additional 110 shares during the last quarter. Monetary Management Group Inc. raised its stake in Boeing by 33.3% in the 1st 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. Finally, Keener Financial Planning LLC purchased a new stake in Boeing in the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of several recent analyst reports. UBS Group restated a “buy” rating on shares of Boeing in a report on Thursday. Deutsche Bank Aktiengesellschaft cut Boeing from a “buy” rating to a “hold” rating and set a $240.00 price target for the company. in a report on Thursday. JPMorgan Chase & Co. lowered their price target on Boeing from $251.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday. Susquehanna restated a “positive” rating and issued a $270.00 price target on shares of Boeing in a report on Monday, September 15th. Finally, Vertical Research upgraded Boeing from a “hold” rating to a “buy” rating and lifted their price target for the company from $242.00 to $270.00 in a report on Monday, September 8th. 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 three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $242.79.

Read Our Latest Stock Report on BA

Insider Buying and Selling

In related news, Director Mortimer J. Buckley purchased 2,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the acquisition, the director directly owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The SEC filing for this sale provides additional information. 0.09% of the stock is owned by corporate insiders.

Boeing Stock Performance

Shares of NYSE:BA opened at $200.15 on Friday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a market capitalization of $151.34 billion, a P/E ratio of -14.63 and a beta of 1.47. The stock has a 50-day simple moving average of $220.74 and a 200-day simple moving average of $212.08.

Boeing (NYSE:BA – Get Free Report) last issued its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The firm had revenue of $23.27 billion during 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 period in the prior year, the firm earned ($10.44) EPS. Analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

About Boeing

(Free Report)

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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