BigSur Wealth Management LLC Lowers Holdings in The Boeing Company $BA

Key Points

• BigSur Wealth Management LLC has reduced its stake in Boeing by 34.8%, owning 4,680 shares worth approximately $981,000 after selling 2,500 shares in the second quarter.
• Boeing reported a quarterly earnings loss of ($1.24) per share, missing expectations, although revenue increased by 34.9% year-over-year, totaling $22.75 billion.
• Currently, Boeing holds an average rating of "Moderate Buy" among analysts, with a price target of $230.77 and possibilities of further upgrades.

BigSur Wealth Management LLC decreased its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 34.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,680 shares of the aircraft producer's stock after selling 2,500 shares during the quarter. BigSur Wealth Management LLC's holdings in Boeing were worth $981,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Level Financial Advisors acquired a new stake in shares of Boeing during the 2nd quarter worth about $227,000. Perennial Advisors LLC purchased a new position in Boeing during the second quarter worth about $224,000. Pitti Group Wealth Management LLC increased its position in shares of Boeing by 1.7% during the second quarter. Pitti Group Wealth Management LLC now owns 12,122 shares of the aircraft producer's stock valued at $2,540,000 after acquiring an additional 206 shares during the last quarter. Spectrum Planning & Advisory Services Inc. purchased a new stake in shares of Boeing in the 2nd quarter valued at approximately $344,000. Finally, Aspire Capital Advisors LLC raised its stake 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 acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Stock Performance

Shares of Boeing stock opened at $215.36 on Thursday. The business has a 50-day simple moving average of $227.04 and a 200-day simple moving average of $201.93. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The company has a market cap of $162.84 billion, a PE ratio of -13.04 and a beta of 1.48.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Citigroup reiterated a "buy" rating on shares of Boeing in a report on Monday, July 28th. Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a research report on Friday, June 27th. Susquehanna reiterated a "positive" rating and issued a $270.00 price objective on shares of Boeing in a report on Monday, September 15th. KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a research report on Thursday, June 12th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Boeing currently has an average rating of "Moderate Buy" and an average price target of $230.77.

Insider Buying and Selling at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the acquisition, the director owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Boeing Profile

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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