The Boeing Company $BA Shares Sold by Electron Capital Partners LLC

Key Points

• Electron Capital Partners LLC has reduced its holdings in The Boeing Company by 76.7%, selling 162,426 shares and currently owning 49,372 shares valued at approximately $8.42 million.
• Boeing's recent earnings report revealed a loss of ($1.24) per share, missing analyst expectations, though revenue increased by 34.9% year-over-year, totaling $22.75 billion.
• Institutional investors own about 64.82% of Boeing's stock, with several firms increasing their stakes in the fourth quarter, indicating a mixed sentiment among investors.

Electron Capital Partners LLC cut its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 76.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,372 shares of the aircraft producer's stock after selling 162,426 shares during the period. Boeing comprises approximately 0.6% of Electron Capital Partners LLC's investment portfolio, making the stock its 23rd biggest holding. Electron Capital Partners LLC's holdings in Boeing were worth $8,420,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Revolve Wealth Partners LLC acquired a new position in Boeing during the fourth quarter valued at $201,000. Bank Pictet & Cie Europe AG acquired a new position in shares of Boeing in the fourth quarter worth about $7,837,000. Triumph Capital Management raised its position in shares of Boeing by 12.8% in the fourth quarter. Triumph Capital Management now owns 9,557 shares of the aircraft producer's stock worth $1,692,000 after acquiring an additional 1,084 shares during the period. Captrust Financial Advisors raised its position in shares of Boeing by 19.2% in the fourth quarter. Captrust Financial Advisors now owns 60,497 shares of the aircraft producer's stock worth $10,708,000 after acquiring an additional 9,730 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Boeing by 5.3% in the fourth quarter. Cetera Investment Advisers now owns 249,458 shares of the aircraft producer's stock worth $44,154,000 after acquiring an additional 12,627 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boeing

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Boeing Price Performance

NYSE BA traded up $1.28 during trading hours on Monday, hitting $230.89. 5,950,176 shares of the company's stock traded hands, compared to its average volume of 8,237,823. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The company has a market capitalization of $174.59 billion, a PE ratio of -13.99 and a beta of 1.48. The firm's 50-day moving average is $227.54 and its 200-day moving average is $197.88.

Boeing (NYSE:BA - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the previous year, the company posted ($2.90) earnings per share. The company's quarterly revenue was up 34.9% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. The Goldman Sachs Group set a $212.00 price objective on shares of Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Citigroup reissued a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Finally, Wall Street Zen cut shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and a consensus price target of $230.77.

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.