Peoples Financial Services CORP. Sells 2,361 Shares of The Boeing Company $BA

Key Points

• Peoples Financial Services CORP. has reduced its stake in The Boeing Company by 27.5%, selling 2,361 shares, with current holdings valued at approximately $1.3 million.
• Several institutional investors have increased their positions in Boeing, including National Pension Service which grew its holdings by 19.6% to over $227 million.
• Wall Street analysts have mixed ratings for Boeing, with Jefferies recently raising the price target to $250, while the overall consensus rating remains a Moderate Buy.

Peoples Financial Services CORP. cut its position in shares of The Boeing Company (NYSE:BA - Free Report) by 27.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,233 shares of the aircraft producer's stock after selling 2,361 shares during the quarter. Peoples Financial Services CORP.'s holdings in Boeing were worth $1,306,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vestcor Inc grew its holdings in shares of Boeing by 9.0% during the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock worth $2,471,000 after buying an additional 1,195 shares in the last quarter. National Pension Service grew its holdings in shares of Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock worth $227,365,000 after buying an additional 218,049 shares in the last quarter. Wynn Capital LLC bought a new position in shares of Boeing during the first quarter worth about $584,000. MFG Wealth Management Inc. bought a new position in shares of Boeing during the first quarter worth about $2,125,000. Finally, Kelman Lazarov Inc. bought a new position in Boeing in the first quarter valued at approximately $262,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BA shares. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Jefferies Financial Group raised their price target on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and raised their price target for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $250.00 price target on shares of Boeing in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and a consensus target price of $230.77.

Insider Activity at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Boeing Trading Up 3.6%

Shares of NYSE BA opened at $221.28 on Monday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock has a 50 day moving average of $226.53 and a 200-day moving average of $203.45. The company has a market capitalization of $167.32 billion, a P/E ratio of -13.40 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last issued its 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 during the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the prior year, the company earned ($2.90) EPS. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. 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.

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