Columbia Asset Management Has $411,000 Holdings in The Boeing Company $BA

Key Points

• Columbia Asset Management significantly reduced its holdings in Boeing by 99.2% in the second quarter, now owning just 1,962 shares valued at $411,000 after selling 232,000 shares.
• Several large investors have recently increased their positions in Boeing, with Aspire Capital Advisors and others boosting holdings by up to 2.7% during the same period.
• Boeing reported ($1.24) earnings per share for the last quarter, missing estimates, although the company showed a revenue increase of 34.9% year-over-year, reaching $22.75 billion.

Columbia Asset Management cut its position in shares of The Boeing Company (NYSE:BA - Free Report) by 99.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,962 shares of the aircraft producer's stock after selling 232,000 shares during the quarter. Columbia Asset Management's holdings in Boeing were worth $411,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BA. Aspire Capital Advisors LLC boosted its position in shares of 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 acquiring an additional 45 shares during the period. Lantz Financial LLC boosted 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 acquiring an additional 46 shares during the period. Atlas Brown Inc. boosted its position in shares of Boeing by 0.7% in the second quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock valued at $1,362,000 after acquiring an additional 48 shares during the period. Moody National Bank Trust Division boosted its position in shares of Boeing by 2.7% in the second quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer's stock valued at $385,000 after acquiring an additional 48 shares during the period. Finally, Monetary Management Group Inc. lifted its position in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after purchasing an additional 50 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Boeing Stock Performance

Shares of BA opened at $215.88 on Wednesday. The firm has a market cap of $163.24 billion, a price-to-earnings ratio of -13.08 and a beta of 1.48. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The firm has a 50 day moving average price of $226.04 and a 200-day moving average price of $203.92.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $20.13 billion. The business's revenue was up 34.9% on a year-over-year basis. During the same period last year, the firm posted ($2.90) EPS. As a group, equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BA. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Royal Bank Of Canada reiterated an "outperform" rating and set a $250.00 target price on shares of Boeing in a research report on Monday. Morgan Stanley reiterated an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Citigroup reiterated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and a consensus price target of $231.00.

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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