The Boeing Company $BA Shares Sold by Newport Trust Company LLC

Key Points

• Newport Trust Company LLC reduced its stake in The Boeing Company by 0.5%, selling 160,390 shares and still holding approximately $5.2 billion worth of stock, making it the second largest holding in their portfolio.
• Boeing reported a quarterly earnings miss with a loss of ($1.24) EPS, lower than the expected ($0.92), but its revenue rose by 34.9% year-over-year to $22.75 billion.
• Equities analysts have varied ratings for Boeing, with three upgrading the stock to a strong-buy and a consensus price target set at $228.90.

Newport Trust Company LLC reduced its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,540,342 shares of the aircraft producer's stock after selling 160,390 shares during the quarter. Boeing accounts for approximately 13.4% of Newport Trust Company LLC's portfolio, making the stock its 2nd largest holding. Newport Trust Company LLC owned 4.05% of Boeing worth $5,208,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vestcor Inc lifted its holdings in shares of Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after purchasing an additional 1,195 shares in the last quarter. National Pension Service lifted its holdings in shares of Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock valued at $227,365,000 after purchasing an additional 218,049 shares in the last quarter. KKM Financial LLC lifted its holdings in shares of Boeing by 50.8% in the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock valued at $2,720,000 after purchasing an additional 5,175 shares in the last quarter. Wynn Capital LLC purchased a new stake in shares of Boeing in the first quarter valued at about $584,000. Finally, Advanced Portfolio Management LLC lifted its holdings in shares of Boeing by 182.2% in the fourth quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer's stock valued at $2,655,000 after purchasing an additional 9,684 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, with a total value 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. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BA. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $180.00 to $275.00 in a report on Friday, June 27th. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. JPMorgan Chase & Co. upped their price objective on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Barclays upped their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective on the stock in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $228.90.

Boeing Price Performance

NYSE:BA traded up $5.3150 during trading hours on Friday, reaching $229.7750. 8,672,974 shares of the company were exchanged, compared to its average volume of 7,126,503. The firm has a market cap of $173.75 billion, a price-to-earnings ratio of -13.92 and a beta of 1.48. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The stock has a 50 day simple moving average of $221.17 and a 200 day simple moving average of $194.34.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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 the consensus estimate of $20.13 billion. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.90) earnings per share. On average, analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.