Alteri Wealth LLC Sells 31,693 Shares of The Boeing Company (NYSE:BA)

Key Points

• Alteri Wealth LLC significantly reduced its stake in Boeing by 68.7% during the 1st quarter, selling 31,693 shares and holding only 14,444 shares afterwards.
• Multiple institutional investors increased their holdings in Boeing during the same quarter, with Zurcher Kantonalbank boosting its stake by 7.8% and Providence Wealth Advisors raising theirs by 42.8%.
• Brokerage ratings for Boeing show a consensus of "Moderate Buy" with a price target set at $221.55, following various upgrades from analysts.

Alteri Wealth LLC reduced its stake in The Boeing Company (NYSE:BA - Free Report) by 68.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,444 shares of the aircraft producer's stock after selling 31,693 shares during the quarter. Boeing accounts for 1.1% of Alteri Wealth LLC's portfolio, making the stock its 16th largest position. Alteri Wealth LLC's holdings in Boeing were worth $2,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Boeing by 7.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 190,852 shares of the aircraft producer's stock valued at $32,550,000 after purchasing an additional 13,737 shares during the period. Providence Wealth Advisors LLC lifted its holdings in shares of Boeing by 42.8% during the 1st quarter. Providence Wealth Advisors LLC now owns 2,435 shares of the aircraft producer's stock worth $409,000 after acquiring an additional 730 shares during the period. Spectrum Wealth Counsel LLC lifted its holdings in shares of Boeing by 237.1% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 354 shares of the aircraft producer's stock worth $60,000 after acquiring an additional 249 shares during the period. Empirical Finance LLC lifted its stake in Boeing by 2.0% in the 1st quarter. Empirical Finance LLC now owns 19,713 shares of the aircraft producer's stock valued at $3,362,000 after purchasing an additional 378 shares during the last quarter. Finally, Motco lifted its stake in Boeing by 15.1% in the 1st quarter. Motco now owns 1,230 shares of the aircraft producer's stock valued at $210,000 after purchasing an additional 161 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Insider Activity at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president directly owned 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the sale, the executive vice president owned 42,513 shares of the company's stock, valued at $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock worth $1,511,370 over the last three months. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BA. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $180.00 to $275.00 in a research report on Friday, June 27th. The Goldman Sachs Group set a $212.00 price objective on shares of Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. Jefferies Financial Group increased their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Morgan Stanley increased their target price on shares of Boeing from $200.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $221.55.

Boeing Trading Up 0.8%

NYSE:BA opened at $233.02 on Friday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $235.27. The company has a market cap of $175.70 billion, a price-to-earnings ratio of -13.00 and a beta of 1.41. The stock has a fifty day simple moving average of $213.01 and a 200-day simple moving average of $186.85.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted ($1.13) earnings per share. As a group, equities research analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

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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