Focus Partners Advisor Solutions LLC Sells 1,423 Shares of The Boeing Company $BA

Key Points

• Focus Partners Advisor Solutions LLC has reduced its holdings in Boeing by 9.6%, selling 1,423 shares, and now owning 13,396 shares valued at approximately $2.8 million.
• Boeing reported a challenging quarter with an EPS of ($1.24), missing expectations, but achieved a revenue increase of 34.9% year-over-year.
• Analysts show optimism, with target prices for Boeing being raised; Sanford C. Bernstein has set a new target of $282.00 and rated the stock as "outperform."

Focus Partners Advisor Solutions LLC trimmed its position in shares of The Boeing Company (NYSE:BA - Free Report) by 9.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,396 shares of the aircraft producer's stock after selling 1,423 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Boeing were worth $2,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vestcor Inc boosted its stake in Boeing by 9.0% during the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after buying an additional 1,195 shares during the period. National Pension Service raised its position in Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock valued at $227,365,000 after purchasing an additional 218,049 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Boeing during the second quarter valued at about $62,859,000. Kelman Lazarov Inc. purchased a new position in shares of Boeing in the first quarter worth about $262,000. Finally, Vanguard Group Inc. increased its holdings in shares of Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after buying an additional 1,212,327 shares during the period. 64.82% of the stock is owned by institutional investors.

Boeing Trading Up 1.5%

Shares of BA opened at $221.13 on Friday. The firm has a market cap of $167.21 billion, a PE ratio of -13.39 and a beta of 1.47. The firm has a fifty day simple moving average of $221.68 and a two-hundred day simple moving average of $210.51. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. Boeing's quarterly revenue was up 34.9% compared to the same quarter last year. During the same period last year, the business earned ($2.90) EPS. As a group, research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BA has been the topic of several recent analyst reports. Sanford C. Bernstein raised their target price on Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a research note on Thursday, October 2nd. Bank of America lifted their price objective on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Susquehanna reissued a "positive" rating and issued a $270.00 price target on shares of Boeing in a research report on Monday, September 15th. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Finally, KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $242.32.

Insider Buying and Selling at Boeing

In other news, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the acquisition, the director owned 2,200 shares of the company's stock, valued at approximately $497,420. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction 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 completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

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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