Douglas Lane & Associates LLC Sells 28,386 Shares of The Boeing Company $BA

Key Points

• Douglas Lane & Associates LLC reduced its holdings in Boeing by 6.5%, now owning 406,297 shares valued at approximately $85.13 million, which constitutes 1.2% of its total investments.
• Insider activity includes Director Mortimer J. Buckley purchasing 2,200 shares valued at $497,420, while EVP David Christopher Raymond sold 3,771 shares valued around $867,104, showcasing mixed insider sentiment.
• Boeing recently reported a quarterly loss of ($1.24) EPS, below the consensus estimate, despite a revenue increase of 34.9% year-over-year, highlighting ongoing challenges amidst rising sales.

Douglas Lane & Associates LLC lessened its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 6.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 406,297 shares of the aircraft producer's stock after selling 28,386 shares during the period. Boeing accounts for about 1.2% of Douglas Lane & Associates LLC's portfolio, making the stock its 20th largest position. Douglas Lane & Associates LLC owned 0.05% of Boeing worth $85,131,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Monetary Management Group Inc. boosted its holdings in Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after acquiring an additional 50 shares during the last quarter. Anchor Investment Management LLC raised its position in shares of Boeing by 0.9% during the first quarter. Anchor Investment Management LLC now owns 5,411 shares of the aircraft producer's stock worth $923,000 after purchasing an additional 50 shares during the period. Heritage Financial Services LLC raised its position in shares of Boeing by 4.2% during the first quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer's stock worth $216,000 after purchasing an additional 51 shares during the period. Wood Tarver Financial Group LLC grew its holdings in shares of Boeing by 14.3% during the first quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer's stock worth $75,000 after buying an additional 55 shares in the last quarter. Finally, Signature Wealth Management Partners LLC grew its holdings in shares of Boeing by 2.0% during the first quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer's stock worth $493,000 after buying an additional 57 shares in the last quarter. Institutional investors own 64.82% of the company's stock.

Boeing Stock Down 1.8%

Shares of NYSE BA traded down $3.87 during trading on Friday, reaching $216.12. The company had a trading volume of 11,078,950 shares, compared to its average volume of 6,370,571. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The company's fifty day moving average price is $228.76 and its 200-day moving average price is $199.39. The stock has a market cap of $163.42 billion, a P/E ratio of -13.09 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate 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. During the same quarter last year, the firm posted ($2.90) EPS. Boeing's quarterly revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup reaffirmed a "buy" rating on shares of Boeing in a research report on Monday, July 28th. UBS Group set a $280.00 price target on Boeing and gave the company a "buy" rating in a research note on Wednesday, July 30th. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective for the company in a report on Friday, June 27th. Barclays boosted their price target on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Finally, Bank of America boosted their price target on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Three investment 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $230.77.

Insider Activity at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value 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. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the purchase, the director 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 disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Boeing Company 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.