Menora Mivtachim Holdings LTD. Trims Stock Position in The Boeing Company (NYSE:BA)

Key Points

• Menora Mivtachim Holdings LTD. has reduced its stake in The Boeing Company by 54.1%, selling 429,450 shares and leaving it with a total of 364,719 shares worth approximately $62.2 million.
• Boeing reported a quarterly earnings per share (EPS) loss of ($1.24), missing expectations, but achieved a revenue of $22.75 billion, which is a 34.9% increase compared to the previous year.
• Analysts have varying ratings for Boeing, with most giving it a "Moderate Buy" rating; Barclays recently raised its price target from $210 to $255 per share.

Menora Mivtachim Holdings LTD. lowered its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 54.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 364,719 shares of the aircraft producer's stock after selling 429,450 shares during the quarter. Menora Mivtachim Holdings LTD.'s holdings in Boeing were worth $62,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alliance Wealth Advisors LLC UT grew its stake in shares of Boeing by 37.2% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 6,255 shares of the aircraft producer's stock valued at $1,067,000 after acquiring an additional 1,695 shares during the period. Roanoke Asset Management Corp NY grew its stake in shares of Boeing by 0.5% during the 1st quarter. Roanoke Asset Management Corp NY now owns 29,061 shares of the aircraft producer's stock valued at $4,956,000 after acquiring an additional 150 shares during the period. Gen Wealth Partners Inc grew its stake in shares of Boeing by 9.4% during the 1st quarter. Gen Wealth Partners Inc now owns 8,220 shares of the aircraft producer's stock valued at $1,402,000 after acquiring an additional 705 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in shares of Boeing by 3.2% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 7,883 shares of the aircraft producer's stock valued at $1,344,000 after acquiring an additional 244 shares during the period. Finally, Ethic Inc. grew its stake in shares of Boeing by 9.8% during the 1st quarter. Ethic Inc. now owns 9,504 shares of the aircraft producer's stock valued at $1,598,000 after acquiring an additional 849 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Trading Up 0.9%

Shares of BA stock opened at $235.31 on Friday. The stock has a 50 day moving average of $219.45 and a 200 day moving average of $192.49. The stock has a market cap of $177.93 billion, a P/E ratio of -14.25 and a beta of 1.48. 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 issued its quarterly earnings data 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 business had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter in the prior year, the firm posted ($2.90) earnings per share. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. On average, research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BA shares. Barclays upped their price target on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. UBS Group set a $280.00 price target on Boeing and gave the stock a "buy" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their price objective on Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Benchmark decreased their price objective on Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $250.00 price objective on shares of Boeing in a report on Wednesday, July 30th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $228.90.

Insider Activity

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the business's 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 transaction, the executive vice president owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is 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.

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