The Boeing Company $BA Shares Sold by U S Global Investors Inc.

Key Points

• U S Global Investors Inc. has reduced its Boeing holdings by 21.3%, now owning 77,873 shares worth approximately $16.3 million.
• Major institutional investors have altered their positions, with Canada Pension Plan Investment Board increasing its stake by 243.8% and Valeo Financial Advisors LLC boosting theirs by 938.4%.
• Boeing's stock is currently trading at $211.04, with a market capitalization of $159.58 billion, and has reported quarterly earnings of ($1.24) per share, missing analysts' expectations.

U S Global Investors Inc. reduced its position in The Boeing Company (NYSE:BA - Free Report) by 21.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,873 shares of the aircraft producer's stock after selling 21,131 shares during the period. Boeing makes up approximately 1.9% of U S Global Investors Inc.'s holdings, making the stock its 15th largest holding. U S Global Investors Inc.'s holdings in Boeing were worth $16,317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kingstone Capital Partners Texas LLC acquired a new position in Boeing during the 2nd quarter worth approximately $378,459,000. Vanguard Group Inc. lifted its position in Boeing by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after acquiring an additional 1,212,327 shares in the last quarter. Strs Ohio acquired a new position in Boeing during the 1st quarter worth approximately $98,984,000. Canada Pension Plan Investment Board lifted its position in Boeing by 243.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock worth $128,689,000 after acquiring an additional 535,060 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in Boeing by 938.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 556,814 shares of the aircraft producer's stock worth $116,669,000 after acquiring an additional 503,193 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the 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 acquisition, the director owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 35,873 shares of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Boeing Trading Down 2.3%

Shares of NYSE BA opened at $211.04 on Friday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The company has a market capitalization of $159.58 billion, a price-to-earnings ratio of -12.78 and a beta of 1.47. The business has a 50 day simple moving average of $224.29 and a 200-day simple moving average of $206.19.

Boeing (NYSE:BA - Get Free Report) last issued 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 firm had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. During the same period last year, the business earned ($2.90) EPS. The company's revenue was up 34.9% on a year-over-year basis. As a group, equities analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

BA has been the topic of several recent research reports. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. Sanford C. Bernstein boosted their price target on Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a research report on Thursday, October 2nd. KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Susquehanna reaffirmed a "positive" rating and issued a $270.00 target price on shares of Boeing in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. upped their target price on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Three investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $233.91.

Boeing 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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