Global Assets Advisory LLC Lowers Position in The Boeing Company $BA

Key Points

• Global Assets Advisory LLC has significantly reduced its stake in The Boeing Company by 67.9% during the second quarter, now holding 11,531 shares valued at approximately $2.4 million.
• Despite a quarterly earnings miss with a reported EPS of -$1.24, Boeing achieved over $22 billion in revenue, exceeding analyst expectations.
• Research analysts are divided on Boeing, with a recent consensus giving it a “Moderate Buy” rating and an average price target of around $233.91.

Global Assets Advisory LLC lowered its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 67.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,531 shares of the aircraft producer's stock after selling 24,416 shares during the period. Boeing makes up approximately 0.9% of Global Assets Advisory LLC's portfolio, making the stock its 20th biggest holding. Global Assets Advisory LLC's holdings in Boeing were worth $2,419,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Piscataqua Savings Bank boosted its holdings in Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after acquiring an additional 137 shares during the last quarter. Proathlete Wealth Management LLC purchased a new position in shares of Boeing in the 1st quarter worth about $34,000. Monetary Management Group Inc. lifted its stake in shares of Boeing by 33.3% in the 1st 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 in the last quarter. Columbia River Financial Group LLC purchased a new stake in shares of Boeing during the 1st quarter worth about $50,000. Finally, Iron Horse Wealth Management LLC increased its position in Boeing by 33.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 297 shares of the aircraft producer's stock worth $51,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Price Performance

NYSE:BA opened at $216.32 on Monday. The firm has a 50-day moving average of $225.06 and a two-hundred day moving average of $205.21. The stock has a market cap of $163.57 billion, a P/E ratio of -13.10 and a beta of 1.47. 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 released its quarterly 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 analyst estimates of $20.13 billion. During the same quarter last year, the business posted ($2.90) EPS. The business's quarterly revenue was up 34.9% on a year-over-year basis. As a group, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BA shares. Bank of America lifted their price target on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a report on Tuesday, September 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Boeing in a report on Saturday, September 27th. Vertical Research upgraded Boeing from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $250.00 target price on shares of Boeing in a research note on Monday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and a consensus price target of $233.91.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the firm'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 transaction, the executive vice president directly owned 35,873 shares of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, 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. 0.09% of the stock is currently owned by company insiders.

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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