The Boeing Company (NYSE:BA) Stock Position Cut by Jackson Square Partners LLC

Key Points

• Jackson Square Partners LLC reduced its holdings in The Boeing Company by 3.6%, resulting in ownership of 35,985 shares valued at approximately $6.14 million.
• Boeing's stock has a market cap of $170.16 billion, a P/E ratio of -13.63, and current share prices opened at $225.03.
• Analyst ratings for Boeing are mixed, with three analysts recommending "sell", three "hold", and seventeen giving it a "buy" rating, with a consensus target price of $228.90.

Jackson Square Partners LLC cut its position in The Boeing Company (NYSE:BA - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,985 shares of the aircraft producer's stock after selling 1,355 shares during the quarter. Jackson Square Partners LLC's holdings in Boeing were worth $6,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wood Tarver Financial Group LLC boosted its stake in shares of Boeing by 14.3% in the first quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer's stock valued at $75,000 after purchasing an additional 55 shares during the period. Signature Wealth Management Partners LLC raised its holdings in Boeing by 2.0% in the first quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer's stock valued at $493,000 after acquiring an additional 57 shares in the last quarter. Byrne Financial Freedom LLC raised its holdings in Boeing by 3.0% in the first quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer's stock valued at $340,000 after acquiring an additional 58 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in Boeing by 0.3% in the first quarter. HighPoint Advisor Group LLC now owns 19,657 shares of the aircraft producer's stock valued at $3,578,000 after acquiring an additional 58 shares in the last quarter. Finally, Colonial Trust Co SC raised its holdings in Boeing by 6.1% in the fourth quarter. Colonial Trust Co SC now owns 1,042 shares of the aircraft producer's stock valued at $184,000 after acquiring an additional 60 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BA shares. Bank of America upped their price target on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Citigroup reaffirmed a "buy" rating on shares of Boeing in a report on Monday, July 28th. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Cowen reaffirmed a "buy" rating on shares of Boeing in a report on Wednesday, May 7th. Finally, Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target on the stock in a report on Friday, June 27th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.90.

Boeing Stock Performance

Shares of Boeing stock traded up $1.75 during trading on Friday, hitting $229.08. 4,716,407 shares of the stock were exchanged, compared to its average volume of 7,343,935. The stock's fifty day moving average is $217.39 and its 200 day moving average is $190.57. The stock has a market cap of $173.22 billion, a PE ratio of -13.88 and a beta of 1.48. The Boeing Company has a 12 month low of $128.88 and a 12 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) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. The business's revenue was up 34.9% on a year-over-year basis. During the same period in the prior year, the company earned ($2.90) EPS. Sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the transaction, the senior vice president owned 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the transaction, the executive vice president owned 20,513 shares of the company's stock, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate 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.