Harbour Investments Inc. Sells 1,502 Shares of The Boeing Company $BA

Key Points

• Harbour Investments Inc. reduced its stake in The Boeing Company by 23.5%, selling 1,502 shares and holding a total of 4,892 shares valued at $1,025,000 after the sale.
• Boeing's stock reported a quarterly loss of ($1.24) EPS, missing the consensus estimate, despite a 34.9% increase in revenue year-over-year.
• Several large institutional investors, including Vanguard Group and Canada Pension Plan Investment Board, have significantly increased their holdings in Boeing, reflecting a positive sentiment among major shareholders.

Harbour Investments Inc. lowered its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 23.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,892 shares of the aircraft producer's stock after selling 1,502 shares during the quarter. Harbour Investments Inc.'s holdings in Boeing were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of BA. Kingstone Capital Partners Texas LLC purchased a new position in shares of Boeing during the second quarter valued at about $378,459,000. Vanguard Group Inc. increased its position in shares of Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after buying an additional 1,212,327 shares during the period. Strs Ohio purchased a new position in shares of Boeing during the first quarter valued at about $98,984,000. Canada Pension Plan Investment Board increased its position in shares of Boeing by 243.8% during the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock valued at $128,689,000 after buying an additional 535,060 shares during the period. Finally, Valeo Financial Advisors LLC increased its position in shares of Boeing by 938.4% during the second quarter. Valeo Financial Advisors LLC now owns 556,814 shares of the aircraft producer's stock valued at $116,669,000 after buying an additional 503,193 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Stock Up 0.6%

Shares of Boeing stock opened at $213.09 on Friday. The company has a market cap of $161.13 billion, a price-to-earnings ratio of -12.91 and a beta of 1.47. The company's 50 day moving average is $223.10 and its 200 day moving average is $207.83. The Boeing Company has a twelve month low of $128.88 and a twelve month 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) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. During the same quarter in the previous year, the firm earned ($2.90) EPS. The company's revenue for the quarter was up 34.9% on a year-over-year basis. Sell-side analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction on Friday, August 8th. The shares were 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 at this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BA shares. UBS Group set a $280.00 price objective on shares of Boeing and gave the stock a "buy" rating in a report on Wednesday, July 30th. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and upped their price objective for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Boeing in a report on Wednesday, October 8th. Royal Bank Of Canada restated an "outperform" rating and issued a $250.00 price objective on shares of Boeing in a report on Monday, September 29th. Finally, Vertical Research upgraded shares of Boeing from a "hold" rating to a "buy" rating and upped their price objective for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $240.20.

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.

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