Mizuho Securities USA LLC Sells 10,795 Shares of The Boeing Company (NYSE:BA)

Key Points

• Mizuho Securities USA LLC has reduced its stake in The Boeing Company by 15.2%, now holding 60,058 shares valued at approximately $10.24 million.
• Despite a missed earnings estimate of ($1.24) EPS, Boeing reported a 34.9% increase in revenue year-over-year, reaching $22.75 billion.
• The current trading price of Boeing shares is $229.08, with a market cap of $173.22 billion, and a price-to-earnings ratio of -13.88.

Mizuho Securities USA LLC trimmed its position in shares of The Boeing Company (NYSE:BA - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,058 shares of the aircraft producer's stock after selling 10,795 shares during the period. Mizuho Securities USA LLC's holdings in Boeing were worth $10,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vestcor Inc boosted its stake in shares of Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after buying an additional 1,195 shares during the period. KKM Financial LLC boosted its stake in shares of Boeing by 50.8% during the 4th quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock valued at $2,720,000 after buying an additional 5,175 shares during the period. Wynn Capital LLC acquired a new stake in shares of Boeing during the 1st quarter valued at $584,000. Advanced Portfolio Management LLC boosted its stake in shares of Boeing by 182.2% during the 4th quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer's stock valued at $2,655,000 after buying an additional 9,684 shares during the period. Finally, Zimmer Partners LP acquired a new stake in shares of Boeing during the 4th quarter valued at $393,736,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Up 0.8%

BA traded up $1.75 during midday trading on Friday, reaching $229.08. 4,716,407 shares of the company's stock were exchanged, compared to its average volume of 7,343,935. The firm has a market capitalization of $173.22 billion, a price-to-earnings ratio of -13.88 and a beta of 1.48. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The business has a 50-day simple moving average of $217.39 and a two-hundred day simple moving average of $190.68.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. The firm's revenue for the quarter was up 34.9% on a year-over-year basis. During the same period last year, the company posted ($2.90) EPS. As a group, research analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BA has been the subject of several analyst reports. TD Securities lowered shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Morgan Stanley reaffirmed an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. UBS Group set a $280.00 price objective on shares of Boeing and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Citigroup reaffirmed a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.90.

Insider Transactions at Boeing

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

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.