Rafferty Asset Management LLC Sells 45,378 Shares of The Boeing Company $BA

Key Points

• Rafferty Asset Management LLC has reduced its holdings in Boeing by 26.8% during the first quarter, selling 45,378 shares and leaving them with a total of 124,107 shares valued at approximately $21.17 million.
• Multiple analysts have upgraded Boeing's stock ratings recently, with JPMorgan and UBS setting price targets of up to $280.00, reflecting a general bullish sentiment among analysts.
• Boeing's stock performance showed a year-to-date increase, with current trading around $234.59, significantly above last year's low of $128.88.

Rafferty Asset Management LLC reduced its holdings in The Boeing Company (NYSE:BA - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 124,107 shares of the aircraft producer's stock after selling 45,378 shares during the quarter. Rafferty Asset Management LLC's holdings in Boeing were worth $21,166,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Monetary Management Group Inc. grew its holdings in Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after buying an additional 50 shares during the last quarter. Heritage Financial Services LLC grew its stake in shares of Boeing by 4.2% in the first quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer's stock worth $216,000 after acquiring an additional 51 shares during the last quarter. Wood Tarver Financial Group LLC increased its position in Boeing by 14.3% during the first quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer's stock worth $75,000 after acquiring an additional 55 shares during the period. Signature Wealth Management Partners LLC increased its position in Boeing by 2.0% during the first quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer's stock worth $493,000 after acquiring an additional 57 shares during the period. Finally, Byrne Financial Freedom LLC raised its stake in Boeing by 3.0% during the 1st quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer's stock valued at $340,000 after purchasing an additional 58 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target on the stock in a research note on Friday, June 27th. Jefferies Financial Group raised their price objective on Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, UBS Group set a $280.00 price objective on Boeing and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Boeing has a consensus rating of "Moderate Buy" and a consensus price target of $228.90.

Insider Buying and Selling at Boeing

In related news, Director Mortimer J. Buckley acquired 2,200 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing 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 transaction, the executive vice president directly 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 disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Boeing Price Performance

Shares of BA stock opened at $234.59 on Wednesday. The stock has a market cap of $177.39 billion, a P/E ratio of -14.21 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 stock has a fifty day moving average price of $222.36 and a 200 day moving average price of $195.00.

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 company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. Boeing's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.90) earnings per share. Equities research analysts anticipate that The Boeing Company will post -2.58 EPS for the current 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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