Madison Park Capital Advisors LLC Cuts Stock Holdings in The Boeing Company $BA

by · The Markets Daily

Madison Park Capital Advisors LLC decreased its holdings in shares of The Boeing Company (NYSE:BA – Free Report) by 46.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,047 shares of the aircraft producer’s stock after selling 904 shares during the quarter. Madison Park Capital Advisors LLC’s holdings in Boeing were worth $219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BA. Zimmer Partners LP purchased a new position in shares of Boeing during the fourth quarter worth about $393,736,000. Vanguard Group Inc. lifted its position in Boeing by 1.9% in the 1st 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 during the last quarter. GAMMA Investing LLC lifted its position in Boeing by 19,333.1% in the 1st quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer’s stock worth $170,190,000 after buying an additional 992,753 shares during the last quarter. Strs Ohio bought a new stake in Boeing in the 1st quarter worth approximately $98,984,000. Finally, Canada Pension Plan Investment Board lifted its position in Boeing by 243.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock worth $128,689,000 after buying an additional 535,060 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

BA has been the subject of a number of recent research reports. Jefferies Financial Group boosted their target price on Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. UBS Group set a $280.00 target price on Boeing and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Susquehanna boosted their target price on Boeing from $265.00 to $270.00 and gave the stock a “positive” rating in a research report on Wednesday, July 30th. Morgan Stanley restated an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Finally, Bank of America boosted their price objective on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $230.77.

Read Our Latest Research Report on Boeing

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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, for a total transaction of $497,420.00. Following the completion of the purchase, the director owned 2,200 shares of the company’s stock, valued at $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Boeing Stock Performance

Shares of BA stock opened at $216.12 on Monday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The company has a market capitalization of $163.42 billion, a P/E ratio of -13.09 and a beta of 1.48. The stock has a 50 day moving average price of $228.76 and a two-hundred day moving average price of $199.57.

Boeing (NYSE:BA – Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $20.13 billion. During the same quarter in the previous year, the business earned ($2.90) earnings per share. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. As a group, equities 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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