The Boeing Company $BA Shares Sold by Naviter Wealth LLC

Key Points

• Naviter Wealth LLC reduced its stake in Boeing by 24.6%, now owning 4,290 shares valued at approximately $899,000.
• Boeing has received mixed analyst ratings, with an average rating of "Moderate Buy" and a price target averaging $240.20 from various analysts.
• The company's recent quarterly earnings report revealed a loss of ($1.24) earnings per share, missing analyst expectations, although its revenue increased by 34.9% compared to the prior year.

Naviter Wealth LLC reduced its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 24.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,290 shares of the aircraft producer's stock after selling 1,396 shares during the quarter. Naviter Wealth LLC's holdings in Boeing were worth $899,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Piscataqua Savings Bank grew its position in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after purchasing an additional 137 shares during the last quarter. Proathlete Wealth Management LLC acquired a new stake in shares of Boeing in the first quarter valued at approximately $34,000. Monetary Management Group Inc. grew its position in shares of Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after purchasing an additional 50 shares during the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Boeing in the second quarter valued at approximately $41,000. Finally, Columbia River Financial Group LLC acquired a new stake in shares of Boeing in the first quarter valued at approximately $50,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BA has been the topic of several recent analyst reports. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Bank of America upped their price objective on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 price objective on shares of Boeing in a research note on Monday, September 29th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Boeing in a research note on Wednesday, October 8th. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $240.20.

Boeing Stock Down 0.6%

NYSE:BA opened at $214.31 on Wednesday. The company has a market cap of $162.05 billion, a P/E ratio of -12.98 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. The firm's 50 day moving average is $223.95 and its two-hundred day moving average is $206.92.

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 for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.90) earnings per share. Research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction 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 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 at this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the business's 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 owned 2,200 shares in the company, valued at approximately $497,420. This trade 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.

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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