The Boeing Company $BA Shares Sold by Kingswood Wealth Advisors LLC

Key Points

• Kingswood Wealth Advisors LLC decreased its holdings in Boeing by 65.0% during the 2nd quarter, reducing its shares from 58,206 to 20,383.
• Boeing's quarterly earnings revealed a loss of ($1.24) EPS, missing expectations by ($0.32), although revenue increased by 34.9% year-over-year to $22.75 billion.
• Several analysts have upgraded Boeing's stock rating, with price targets ranging from $212.00 to $275.00, indicating a generally positive outlook.

Kingswood Wealth Advisors LLC cut its position in shares of The Boeing Company (NYSE:BA - Free Report) by 65.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,383 shares of the aircraft producer's stock after selling 37,823 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Boeing were worth $4,271,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vestcor Inc grew its stake in Boeing by 9.0% during the 1st 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 last quarter. National Pension Service boosted its holdings in shares of Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock valued at $227,365,000 after acquiring an additional 218,049 shares during the period. MFG Wealth Management Inc. bought a new position in shares of Boeing during the first quarter worth about $2,125,000. Kelman Lazarov Inc. acquired a new stake in shares of Boeing in the 1st quarter worth about $262,000. Finally, Vanguard Group Inc. lifted its position in Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the last quarter. Institutional investors own 64.82% of the company's stock.

Boeing Stock Up 1.5%

Shares of BA stock opened at $219.62 on Tuesday. The stock has a 50-day simple moving average of $224.72 and a 200 day simple moving average of $205.50. The stock has a market capitalization of $166.07 billion, a P/E ratio of -13.30 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 posted its quarterly earnings results 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 business had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter in the prior year, the company earned ($2.90) earnings per share. The business's quarterly revenue was up 34.9% compared to the same quarter last year. On average, sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Boeing

In other Boeing 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 in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares of the company's stock, valued at $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BA shares. Vertical Research upgraded shares of Boeing from a "hold" rating to a "buy" rating and upped their target price for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Susquehanna reiterated a "positive" rating and set a $270.00 price objective on shares of Boeing in a research report on Monday, September 15th. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and increased their price objective for the stock from $180.00 to $275.00 in a report on Friday, June 27th. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Barclays boosted their price target on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $233.91.

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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