The Boeing Company $BA Position Reduced by Sanders Morris Harris LLC

Key Points

• Sanders Morris Harris LLC significantly reduced its stake in Boeing, trimming holdings by 96.8% to just 1,625 shares after selling 49,933 shares in the second quarter, which were valued at $340,000.
• Multiple analysts have recently upgraded Boeing's stock, with JPMorgan raising its target price from $230 to $251 and other firms setting target prices as high as $282, resulting in a consensus rating of "Moderate Buy."
• Boeing reported a loss of $1.24 EPS for the last quarter, missing estimates, but achieved revenues of $22.75 billion, exceeding expectations by 34.9% year-over-year.

Sanders Morris Harris LLC trimmed its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 96.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,625 shares of the aircraft producer's stock after selling 49,933 shares during the quarter. Sanders Morris Harris LLC's holdings in Boeing were worth $340,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BA. Harbor Asset Planning Inc. bought a new position in Boeing during the 2nd quarter valued at $25,000. Piscataqua Savings Bank boosted its stake in Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after acquiring an additional 137 shares during the last quarter. Monetary Management Group Inc. boosted its stake in Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after acquiring an additional 50 shares during the last quarter. IMG Wealth Management Inc. boosted its stake in Boeing by 159.4% during the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer's stock valued at $38,000 after acquiring an additional 110 shares during the last quarter. Finally, Keener Financial Planning LLC bought a new position in Boeing during the 2nd quarter valued at $41,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and increased their target price for the stock from $180.00 to $275.00 in a report on Friday, June 27th. UBS Group set a $280.00 target price on shares of Boeing and gave the stock a "buy" rating in a report on Wednesday, July 30th. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a report on Tuesday, September 30th. Finally, Sanford C. Bernstein increased their target price on shares of Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a report on Thursday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $240.20.

Boeing Stock Up 1.8%

BA stock opened at $216.78 on Tuesday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The firm's 50-day simple moving average is $222.92 and its 200 day simple moving average is $208.79. The stock has a market cap of $163.92 billion, a PE ratio of -13.13 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last released 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 business had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.90) earnings per share. Equities analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction that occurred 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 owned 35,873 shares of the company's stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director directly owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

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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