SVB Wealth LLC Trims Stock Position in The Boeing Company $BA

Key Points

• SVB Wealth LLC reduced its stake in Boeing by 23.7%, owning 8,844 shares worth approximately $1.51 million after selling 2,749 shares in the first quarter.
• Despite some investors trimming their positions, others like the National Pension Service increased their stake by 19.6%, owning over 1.3 million shares valued at around $227.4 million.
• Boeing's recent earnings report showed revenue of $22.75 billion for the quarter, exceeding analyst estimates, although it reported a loss of $1.24 per share, missing expectations.

SVB Wealth LLC cut its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 23.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,844 shares of the aircraft producer's stock after selling 2,749 shares during the quarter. SVB Wealth LLC's holdings in Boeing were worth $1,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vestcor Inc lifted its position in 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 during the period. National Pension Service lifted its position in 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 during the period. KKM Financial LLC lifted its position in Boeing by 50.8% during the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock worth $2,720,000 after buying an additional 5,175 shares during the period. Wynn Capital LLC purchased a new position in Boeing during the first quarter worth about $584,000. Finally, Advanced Portfolio Management LLC lifted its position in Boeing by 182.2% during the fourth quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer's stock worth $2,655,000 after buying an additional 9,684 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Jefferies Financial Group increased their target price on Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Bank of America upped their price target on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Finally, TD Securities lowered Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Boeing presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.90.

Boeing Price Performance

Shares of NYSE:BA opened at $229.7750 on Friday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The firm has a market capitalization of $173.75 billion, a PE ratio of -13.92 and a beta of 1.48. The business has a 50-day moving average of $221.17 and a two-hundred day moving average of $194.34.

Boeing (NYSE:BA - Get Free Report) last announced 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 analyst estimates of $20.13 billion. The business's revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.90) EPS. As a group, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity

In related news, Director Mortimer J. Buckley bought 2,200 shares of the company'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 acquisition, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president owned 35,873 shares in the company, 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. Company insiders own 0.09% of the company's stock.

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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