The Boeing Company $BA Shares Sold by Prostatis Group LLC

Key Points

• Prostatis Group LLC has reduced its holdings in Boeing by 32.2%, owning 4,984 shares valued at approximately $1,044,000 after selling 2,366 shares in the second quarter.
• Director Mortimer J. Buckley purchased 2,200 shares of Boeing's stock for about $497,420, while EVP David Christopher Raymond sold 3,771 shares for approximately $867,103, indicating active insider trading.
• Boeing's recent quarterly earnings report showed a revenue increase of 34.9% year-over-year, though it missed EPS estimates, posting ($1.24) compared to the expected ($0.92).

Prostatis Group LLC decreased its holdings in The Boeing Company (NYSE:BA - Free Report) by 32.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,984 shares of the aircraft producer's stock after selling 2,366 shares during the period. Prostatis Group LLC's holdings in Boeing were worth $1,044,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vestcor Inc raised its holdings in Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock valued at $2,471,000 after buying an additional 1,195 shares during the period. National Pension Service raised its stake 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 purchasing an additional 218,049 shares during the period. MFG Wealth Management Inc. purchased a new stake in shares of Boeing during the first quarter valued at approximately $2,125,000. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Boeing during the second quarter valued at approximately $62,859,000. Finally, Kelman Lazarov Inc. purchased a new stake in shares of Boeing during the first quarter valued at approximately $262,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insiders Place Their Bets

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on 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 transaction, the executive vice president directly owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on BA. Bank of America lifted 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. Royal Bank Of Canada reiterated an "outperform" rating and set a $250.00 price objective on shares of Boeing in a research note on Monday, September 29th. UBS Group set a $280.00 price objective on shares of Boeing and gave the company a "buy" rating in a research note on Wednesday, July 30th. Citigroup reiterated a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Finally, Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research note on Tuesday, September 30th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $233.91.

Boeing Trading Down 2.3%

Shares of NYSE:BA opened at $211.04 on Friday. The firm has a market cap of $159.58 billion, a PE ratio of -12.78 and a beta of 1.47. The company has a fifty day simple moving average of $224.29 and a 200 day simple moving average of $206.38. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) 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 analysts' expectations of $20.13 billion. Boeing's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.90) earnings per share. As a group, equities research analysts forecast that The Boeing Company will post -2.58 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.