Clifford Swan Investment Counsel LLC Sells 3,079 Shares of The Boeing Company $BA

Key Points

• Clifford Swan Investment Counsel LLC reduced its stake in Boeing by 6.4%, selling 3,079 shares during the second quarter, bringing its total holdings to 44,873 shares valued at approximately $9.4 million.
• Boeing reported a quarterly earnings loss of ($1.24) EPS, missing analysts' expectations, despite revenue of $22.75 billion which exceeded estimates significantly.
• Institutional investors hold nearly 64.82% of Boeing's stock, with several analysts issuing ratings from "Strong Buy" to "Sell," showing mixed sentiments about the stock's future performance.

Clifford Swan Investment Counsel LLC trimmed its position in shares of The Boeing Company (NYSE:BA - Free Report) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,873 shares of the aircraft producer's stock after selling 3,079 shares during the period. Clifford Swan Investment Counsel LLC's holdings in Boeing were worth $9,402,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BA. Wallace Advisory Group LLC increased its stake in shares of Boeing by 1.2% during the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer's stock worth $748,000 after purchasing an additional 44 shares during the last quarter. Aspire Capital Advisors LLC raised its stake in Boeing by 0.8% in the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer's stock valued at $1,245,000 after buying an additional 45 shares during the period. Lantz Financial LLC lifted its position in shares of Boeing by 1.5% in the second quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer's stock valued at $644,000 after buying an additional 46 shares during the last quarter. Atlas Brown Inc. boosted its stake in shares of Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock worth $1,362,000 after acquiring an additional 48 shares during the period. Finally, Moody National Bank Trust Division increased its holdings in shares of Boeing by 2.7% during the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer's stock worth $385,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Stock Performance

NYSE:BA opened at $216.55 on Thursday. The company has a market cap of $163.75 billion, a price-to-earnings ratio of -13.12 and a beta of 1.47. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The stock has a fifty day moving average price of $222.28 and a 200-day moving average price of $208.91.

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 analyst estimates of $20.13 billion. The firm's quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.90) earnings per share. Research analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Boeing in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research report on Tuesday, September 30th. Bank of America upped their target price on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Citigroup reissued a "buy" rating on shares of Boeing in a report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $240.20.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost 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. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

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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