International Assets Investment Management LLC Sells 81,113 Shares of The Boeing Company $BA

Key Points

• International Assets Investment Management LLC has reduced its holdings in The Boeing Company by 36.4%, selling 81,113 shares during the second quarter, leaving them with a total of 141,831 shares valued at $29,718,000.
• Institutional investors own 64.82% of Boeing stock, with notable increases in holdings from Canada Pension Plan Investment Board, which grew by 243.8%, and Valeo Financial Advisors LLC, which expanded their holdings by 938.4%.
• Boeing reported a loss of ($1.24) EPS for the last quarter, missing analysts' estimates, but achieved 34.9% revenue growth year-over-year, totaling $22.75 billion.

International Assets Investment Management LLC cut its holdings in The Boeing Company (NYSE:BA - Free Report) by 36.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,831 shares of the aircraft producer's stock after selling 81,113 shares during the period. Boeing comprises approximately 1.5% of International Assets Investment Management LLC's portfolio, making the stock its 11th biggest holding. International Assets Investment Management LLC's holdings in Boeing were worth $29,718,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC bought a new position in Boeing during the second quarter valued at $378,459,000. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 1,212,327 shares during the period. Strs Ohio bought a new position in Boeing during the first quarter valued at $98,984,000. Canada Pension Plan Investment Board grew its holdings in 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 purchasing an additional 535,060 shares during the period. Finally, Valeo Financial Advisors LLC grew its holdings in 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 purchasing an additional 503,193 shares during the period. 64.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the sale, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, the director directly owned 2,200 shares of the company's stock, valued at approximately $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 owned by insiders.

Boeing Stock Performance

Shares of BA stock opened at $213.09 on Friday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The company has a market capitalization of $161.13 billion, a PE ratio of -12.91 and a beta of 1.47. The business's fifty day moving average is $223.10 and its 200 day moving average is $207.83.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $20.13 billion. During the same quarter in the previous year, the business earned ($2.90) EPS. The business's quarterly revenue was up 34.9% compared to the same quarter last year. On average, sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on BA shares. JPMorgan Chase & Co. increased their price objective on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Bank of America raised 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. Susquehanna reaffirmed a "positive" rating and issued a $270.00 price target on shares of Boeing in a report on Monday, September 15th. Citigroup reaffirmed a "buy" rating on shares of Boeing in a report on Monday, July 28th. Finally, Vertical Research raised Boeing from a "hold" rating to a "buy" rating and raised their price target for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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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