Clear Creek Financial Management LLC Sells 5,063 Shares of The Boeing Company $BA

Key Points

• Clear Creek Financial Management LLC sold 5,063 shares of Boeing, reducing its holdings by 33.6%, and currently owns 9,989 shares valued at approximately $2.09 million.
• Boeing received multiple favorable ratings from analysts, with price targets raised significantly; JPMorgan Chase issued a new target of $251.00, while Sanford C. Bernstein increased their target to $282.00.
• Despite missing analysts' earnings estimates for the latest quarter, Boeing reported a 34.9% increase in revenue, totaling $22.75 billion compared to expected revenue of $20.13 billion.

Clear Creek Financial Management LLC reduced its position in shares of The Boeing Company (NYSE:BA - Free Report) by 33.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,989 shares of the aircraft producer's stock after selling 5,063 shares during the quarter. Clear Creek Financial Management LLC's holdings in Boeing were worth $2,093,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Piscataqua Savings Bank grew its stake in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after purchasing an additional 137 shares during the period. Proathlete Wealth Management LLC purchased a new position in shares of Boeing during the 1st quarter valued at about $34,000. Monetary Management Group Inc. lifted its position in shares of Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after buying an additional 50 shares in the last quarter. Columbia River Financial Group LLC purchased a new position in shares of Boeing during the 1st quarter valued at about $50,000. Finally, Iron Horse Wealth Management LLC lifted its position in shares of Boeing by 33.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer's stock valued at $51,000 after buying an additional 75 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BA. JPMorgan Chase & Co. lifted their price objective on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective on the stock in a research report on Friday, June 27th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Finally, Sanford C. Bernstein lifted their price objective on Boeing from $249.00 to $282.00 and gave the company an "outperform" rating in a research report on Thursday, October 2nd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Boeing has a consensus rating of "Moderate Buy" and a consensus price target of $233.91.

Insider Activity at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Boeing Trading Up 1.6%

NYSE BA opened at $225.26 on Thursday. The stock's 50 day moving average is $224.61 and its 200 day moving average is $205.75. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock has a market cap of $170.33 billion, a PE ratio of -13.64 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly 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 company had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. The company's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.90) earnings per share. On average, analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

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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