The Boeing Company $BA Shares Sold by Dale Q Rice Investment Management Ltd

Key Points

• Dale Q Rice Investment Management Ltd significantly reduced its stake in Boeing by 51.9% in the second quarter, holding just 1,937 shares worth approximately $445,000 after selling 2,086 shares.
• Boeing reported a quarterly earnings per share (EPS) of ($1.24), missing analysts' estimates of ($0.92), while revenue rose by 34.9% year-over-year to $22.75 billion.
• The company's stock has seen notable analyst rating upgrades, with Rothschild & Co Redburn and KGI Securities both raising Boeing to a "buy" or "strong-buy" rating and setting a target price range of $250.00 to $275.00.

Dale Q Rice Investment Management Ltd lowered its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 51.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,937 shares of the aircraft producer's stock after selling 2,086 shares during the quarter. Dale Q Rice Investment Management Ltd's holdings in Boeing were worth $445,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BA. Harbor Asset Planning Inc. acquired a new position in Boeing in the 2nd quarter worth approximately $25,000. Piscataqua Savings Bank increased its holdings in Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after buying an additional 137 shares during the period. Proathlete Wealth Management LLC acquired a new position in Boeing in the 1st quarter worth approximately $34,000. Monetary Management Group Inc. boosted its position in Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after purchasing an additional 50 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new stake in Boeing in the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Stock Performance

Shares of BA stock opened at $213.09 on Friday. The stock's fifty day moving average is $223.10 and its two-hundred day moving average is $207.56. The firm has a market capitalization of $161.13 billion, a P/E ratio of -12.91 and a beta of 1.47. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. During the same period in the previous year, the business earned ($2.90) earnings per share. The firm's revenue was up 34.9% on a year-over-year basis. On average, equities analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on BA shares. Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective on the stock in a research report on Friday, June 27th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating and issued a $250.00 price objective on shares of Boeing in a research report on Monday, September 29th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and increased their target price for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Finally, Susquehanna reiterated a "positive" rating and set a $270.00 target price on shares of Boeing in a research report on Monday, September 15th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and an average target price of $240.20.

Insider Transactions at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares in the company, valued at $497,420. This represents 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 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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