The Boeing Company $BA Shares Sold by Patriot Financial Group Insurance Agency LLC

Key Points

• Patriot Financial Group Insurance Agency LLC reduced its holdings in Boeing by 37.5%, selling 3,810 shares in the second quarter, leaving them with 6,338 shares valued at approximately $1.33 million.
• Insider activity included EVP David Christopher Raymond selling 3,771 shares for over $867,000, while Director Mortimer J. Buckley purchased 2,200 shares valued at nearly $497,000.
• Analysts have varied ratings on Boeing, with a consensus of "Moderate Buy" and a price target averaging $233.91, reflecting growing optimism despite recent earnings misses.

Patriot Financial Group Insurance Agency LLC decreased its holdings in The Boeing Company (NYSE:BA - Free Report) by 37.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,338 shares of the aircraft producer's stock after selling 3,810 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in Boeing were worth $1,328,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Piscataqua Savings Bank raised 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 valued at $30,000 after acquiring an additional 137 shares during the last quarter. Proathlete Wealth Management LLC acquired a new stake in Boeing in the 1st quarter valued at about $34,000. Monetary Management Group Inc. grew its stake in shares of Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after buying an additional 50 shares during the period. Dogwood Wealth Management LLC grew its stake in shares of Boeing by 30.4% in the 2nd quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer's stock valued at $52,000 after buying an additional 56 shares during the period. Finally, Columbia River Financial Group LLC purchased a new stake in shares of Boeing in the 1st quarter valued at approximately $50,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Insider Buying and Selling

In other Boeing news, 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 sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup reissued a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the company a "buy" rating in a research note on Thursday, June 12th. Barclays increased their price target on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. increased their price target 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. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.91.

Boeing Stock Down 0.5%

Boeing stock opened at $216.32 on Friday. The firm has a market cap of $163.57 billion, a PE ratio of -13.10 and a beta of 1.47. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The company's 50 day moving average is $225.06 and its two-hundred day moving average is $204.76.

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

About Boeing

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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