The Boeing Company $BA Stock Holdings Cut by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. has cut its holdings in Boeing by 81.8% in the second quarter, reducing their shares from 12,074 to 2,199, with current holdings valued at $461,000.
• Boeing reported a loss of ($1.24) EPS for the most recent quarter, missing expectations, but achieved a revenue of $22.75 billion, exceeding analyst estimates of $20.13 billion.
• The stock had a mixed performance with an opening price of $215.73 and is rated as a Moderate Buy with a price target averaging $230.77 from analysts.

Thurston Springer Miller Herd & Titak Inc. reduced its position in shares of The Boeing Company (NYSE:BA - Free Report) by 81.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,199 shares of the aircraft producer's stock after selling 9,875 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Boeing were worth $461,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RB Capital Management LLC boosted its stake in Boeing by 4.0% during the 2nd quarter. RB Capital Management LLC now owns 1,710 shares of the aircraft producer's stock valued at $358,000 after purchasing an additional 66 shares in the last quarter. Key Colony Management LLC bought a new position in Boeing during the 2nd quarter valued at $1,048,000. Norway Savings Bank boosted its stake in Boeing by 11.7% during the 2nd quarter. Norway Savings Bank now owns 9,828 shares of the aircraft producer's stock valued at $2,059,000 after purchasing an additional 1,029 shares in the last quarter. HBW Advisory Services LLC boosted its stake in Boeing by 5.9% during the 2nd quarter. HBW Advisory Services LLC now owns 1,649 shares of the aircraft producer's stock valued at $346,000 after purchasing an additional 92 shares in the last quarter. Finally, Howard Financial Services LTD. acquired a new stake in shares of Boeing during the 2nd quarter valued at $210,000. 64.82% of the stock is owned by institutional investors.

Boeing Stock Down 0.1%

Shares of Boeing stock opened at $215.73 on Tuesday. The stock has a market cap of $163.13 billion, a PE ratio of -13.07 and a beta of 1.48. The business has a fifty day simple moving average of $228.71 and a 200-day simple moving average of $199.86. 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 issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate 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 in the previous year, the business posted ($2.90) earnings per share. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. Analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 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. 0.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. Wells Fargo & Company reiterated an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Vertical Research upgraded Boeing from a "hold" rating to a "buy" rating and increased their price objective for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Bank of America increased their price objective on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group set a $212.00 price objective on Boeing and gave the company a "buy" rating in a research report on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $230.77.

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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