GM Advisory Group LLC Sells 1,270 Shares of The Boeing Company $BA

Key Points

• GM Advisory Group LLC reduced its stock holdings in The Boeing Company by 36.9% in the first quarter, resulting in ownership of 2,172 shares valued at approximately $370,000.
• Institutional investors currently hold 64.82% of Boeing's stock, with notable new acquisitions from various funds, including Castlekeep Investment Advisors and Alyeska Investment Group.
• Equities analysts have expressed positive sentiments with multiple upgrades; JPMorgan Chase raised its target price from $230 to $251, while the average rating for Boeing is categorized as a Moderate Buy.

GM Advisory Group LLC lessened its position in shares of The Boeing Company (NYSE:BA - Free Report) by 36.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,172 shares of the aircraft producer's stock after selling 1,270 shares during the quarter. GM Advisory Group LLC's holdings in Boeing were worth $370,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Capital Analysts LLC grew its holdings in Boeing by 5.2% during the 1st quarter. Capital Analysts LLC now owns 18,451 shares of the aircraft producer's stock valued at $3,147,000 after buying an additional 917 shares in the last quarter. Heritage Financial Services LLC grew its holdings in Boeing by 4.2% during the 1st quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer's stock valued at $216,000 after buying an additional 51 shares in the last quarter. Groupama Asset Managment purchased a new position in Boeing during the 1st quarter valued at approximately $743,000. CWS Financial Advisors LLC grew its holdings in Boeing by 37.8% during the 1st quarter. CWS Financial Advisors LLC now owns 1,932 shares of the aircraft producer's stock valued at $330,000 after buying an additional 530 shares in the last quarter. Finally, Korea Investment CORP grew its holdings in Boeing by 3.0% during the 1st quarter. Korea Investment CORP now owns 464,134 shares of the aircraft producer's stock valued at $79,158,000 after buying an additional 13,466 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Trading Up 2.4%

Shares of BA stock traded up $5.3150 on Friday, reaching $229.7750. 8,672,974 shares of the company's stock were exchanged, compared to its average volume of 7,126,503. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The stock has a market capitalization of $173.75 billion, a PE ratio of -13.92 and a beta of 1.48. The company's fifty day simple moving average is $221.17 and its 200 day simple moving average is $194.34.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly 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 company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. During the same period in the prior year, the company earned ($2.90) earnings per share. The business's revenue was up 34.9% compared to the same quarter last year. As a group, sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BA shares. Barclays raised their price target on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Citigroup restated a "buy" rating on shares of Boeing in a report on Monday, July 28th. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Susquehanna lifted their target price on Boeing from $265.00 to $270.00 and gave the stock a "positive" rating in a report on Wednesday, July 30th. Finally, UBS Group set a $280.00 target price on Boeing and gave the stock a "buy" rating in a report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $228.90.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of Boeing 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 sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares in the company, valued at $497,420. This represents 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 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.