David Christopher Raymond Sells 3,771 Shares of The Boeing Company (NYSE:BA) Stock

Key Points

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The Boeing Company (NYSE:BA - Get Free Report) EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction dated Friday, August 8th. The stock was 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 approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Boeing Stock Up 2.8%

Shares of NYSE BA traded up $6.27 during mid-day trading on Tuesday, hitting $232.23. 7,395,206 shares of the company were exchanged, compared to its average volume of 7,054,675. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The stock has a 50 day simple moving average of $217.68 and a 200-day simple moving average of $191.12. The firm has a market cap of $175.60 billion, a price-to-earnings ratio of -14.07 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business 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 business posted ($2.90) earnings per share. The business's revenue for the quarter was up 34.9% compared to the same quarter last year. Analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wallace Advisory Group LLC raised its position in shares of Boeing by 1.2% in the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer's stock valued at $748,000 after purchasing an additional 44 shares in the last quarter. Aspire Capital Advisors LLC raised its position in shares of Boeing by 0.8% in the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer's stock valued at $1,245,000 after purchasing an additional 45 shares in the last quarter. Lantz Financial LLC raised its position in shares of Boeing by 1.5% in the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer's stock valued at $644,000 after purchasing an additional 46 shares in the last quarter. Blue Barn Wealth LLC increased its holdings in shares of Boeing by 1.8% in the 2nd quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer's stock valued at $544,000 after acquiring an additional 46 shares during the last quarter. Finally, Atlas Brown Inc. increased its holdings in shares of Boeing by 0.7% in the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock valued at $1,362,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BA. Bank of America boosted their price objective on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Jefferies Financial Group increased their price target on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Morgan Stanley reiterated an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 price target on shares of Boeing in a research note on Wednesday, July 30th. Finally, KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $228.90.

About Boeing

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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