First Manhattan CO. LLC. Cuts Stock Position in The Boeing Company $BA

Key Points

• First Manhattan CO. LLC. reduced its stake in Boeing by 3.6% during Q1, currently holding 165,876 shares valued at approximately $28.29 million.
• Vanguard Group has significantly increased its holdings in Boeing, owning over 65 million shares valued at approximately $11.2 billion after a 1.9% increase in Q1.
• Boeing's stock recently opened at $234.89 and has seen fluctuating performance with a 12-month high of $242.69 and low of $128.88.

First Manhattan CO. LLC. lowered its position in The Boeing Company (NYSE:BA - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 165,876 shares of the aircraft producer's stock after selling 6,184 shares during the period. First Manhattan CO. LLC.'s holdings in Boeing were worth $28,290,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BA. American National Bank & Trust lifted its holdings in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after purchasing an additional 128 shares in the last quarter. REAP Financial Group LLC lifted its holdings in shares of Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after purchasing an additional 65 shares in the last quarter. Dogwood Wealth Management LLC lifted its holdings in shares of Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Boeing in the fourth quarter valued at approximately $33,000. Finally, Proathlete Wealth Management LLC bought a new position in shares of Boeing in the first quarter valued at approximately $34,000. Institutional investors own 64.82% of the company's stock.

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction that occurred 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 completion of the transaction, the director directly owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Boeing Stock Performance

NYSE:BA traded down $1.35 during trading hours on Friday, reaching $229.40. The stock had a trading volume of 8,198,359 shares, compared to its average volume of 5,748,445. The stock has a 50 day simple moving average of $227.54 and a 200 day simple moving average of $197.69. 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 $173.46 billion, a P/E ratio of -13.89 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. During the same period in the prior year, the company earned ($2.90) earnings per share. Boeing's revenue was up 34.9% on a year-over-year basis. On average, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BA. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Wells Fargo & Company reiterated an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Morgan Stanley reiterated an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Finally, Bank of America lifted 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 equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $228.90.

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.