Sax Wealth Advisors LLC Lowers Stake in The Boeing Company $BA

Key Points

• Sax Wealth Advisors LLC reduced its stake in Boeing by **47.0%**, ending the first quarter with **1,398 shares worth $238,000** after selling 1,240 shares.
• Numerous hedge funds adjusted their positions, with American National Bank & Trust increasing its holdings by **474.1%** during the same period.
• Analysts show mixed sentiments with Boeing receiving downgrades from TD Securities and Wall Street Zen, while it still holds an average rating of **"Moderate Buy"** and a consensus price target of **$228.90**.

Sax Wealth Advisors LLC trimmed its holdings in The Boeing Company (NYSE:BA - Free Report) by 47.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,398 shares of the aircraft producer's stock after selling 1,240 shares during the quarter. Sax Wealth Advisors LLC's holdings in Boeing were worth $238,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BA. American National Bank & Trust raised its holdings in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after buying an additional 128 shares during the last quarter. REAP Financial Group LLC increased its position in Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after acquiring an additional 65 shares during the period. Dogwood Wealth Management LLC raised its stake in Boeing by 167.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after acquiring an additional 112 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in Boeing during the 4th quarter valued at approximately $33,000. Finally, Proathlete Wealth Management LLC acquired a new stake in Boeing during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Trading Down 0.6%

Shares of NYSE:BA traded down $1.32 during trading on Friday, hitting $234.84. 3,863,063 shares of the stock were exchanged, compared to its average volume of 8,294,504. The company has a market cap of $177.58 billion, a PE ratio of -14.25 and a beta of 1.48. The company has a fifty day moving average price of $223.89 and a two-hundred day moving average price of $195.66. The Boeing Company has a 12-month low of $128.88 and a 12-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) earnings per share (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. The business's revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.90) earnings per share. Equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BA shares. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Barclays boosted 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. TD Securities downgraded shares of Boeing to a "cautious" rating in a research report on Thursday, May 22nd. UBS Group set a $280.00 target price on shares of Boeing and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Boeing has an average rating of "Moderate Buy" and an average price target of $228.90.

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Boeing 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.