AlTi Global Inc. Sells 21,984 Shares of The Boeing Company $BA

Key Points

• AlTi Global Inc. has reduced its stake in The Boeing Company by 41.6%, dropping to 30,824 shares worth approximately $5.26 million after selling 21,984 shares in the first quarter.
• Analysts have mixed sentiments on Boeing, with Barclays raising their price target from $210.00 to $255.00 and giving the stock an "overweight" rating, while TD Securities recently assigned a "cautious" rating.
• Insider activity includes Director Mortimer J. Buckley purchasing 2,200 shares at an average price of $226.10, and EVP David Christopher Raymond selling 3,771 shares at $229.94, reflecting ongoing fluctuations in ownership dynamics within the company.

AlTi Global Inc. lessened its holdings in The Boeing Company (NYSE:BA - Free Report) by 41.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,824 shares of the aircraft producer's stock after selling 21,984 shares during the period. AlTi Global Inc.'s holdings in Boeing were worth $5,257,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Aprio Wealth Management LLC bought a new position in Boeing during the 1st quarter valued at about $219,000. Adage Capital Partners GP L.L.C. lifted its holdings in Boeing by 36.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 838,222 shares of the aircraft producer's stock valued at $142,959,000 after purchasing an additional 222,935 shares during the last quarter. Promethium Advisors LLC lifted its holdings in Boeing by 178.2% during the 1st quarter. Promethium Advisors LLC now owns 4,605 shares of the aircraft producer's stock valued at $785,000 after purchasing an additional 2,950 shares during the last quarter. Rench Wealth Management Inc. lifted its holdings in Boeing by 0.5% during the 1st quarter. Rench Wealth Management Inc. now owns 20,332 shares of the aircraft producer's stock valued at $3,468,000 after purchasing an additional 108 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec lifted its holdings in Boeing by 9.2% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 51,003 shares of the aircraft producer's stock valued at $8,699,000 after purchasing an additional 4,302 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Trading Down 0.6%

Shares of BA traded down $1.35 on Friday, reaching $229.40. 8,198,359 shares of the company's stock were exchanged, compared to its average volume of 5,748,445. The stock has a market capitalization of $173.46 billion, a P/E ratio of -13.89 and a beta of 1.48. The business has a 50 day moving average price of $227.54 and a two-hundred day moving average price of $197.69. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. The firm's quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter last year, the company posted ($2.90) earnings per share. Equities research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insiders Place Their Bets

In related news, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares of the company's stock, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction 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 position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays lifted their price target on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the company a "buy" rating in a report on Thursday, June 12th. Bank of America lifted their price target on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Susquehanna boosted their target price on shares of Boeing from $265.00 to $270.00 and gave the stock a "positive" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and an average 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.