The Boeing Company $BA Stock Position Trimmed by Oak Family Advisors LLC

Key Points

• Oak Family Advisors LLC reduced its holdings in Boeing by 3.1%, leaving it with 57,790 shares valued at approximately $12.1 million, making Boeing the fund's second largest stock position.
• Boeing reported a quarterly loss of ($1.24) EPS, missing analysts' estimates, despite a strong revenue increase of 34.9% year-over-year, totaling $22.75 billion.
• Brokerages have adjusted their price targets for Boeing's stock, with JPMorgan Chase increasing its target from $230 to $251 and Barclays raising it from $210 to $255, indicating a generally positive outlook.

Oak Family Advisors LLC lowered its holdings in The Boeing Company (NYSE:BA - Free Report) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,790 shares of the aircraft producer's stock after selling 1,832 shares during the period. Boeing comprises 3.8% of Oak Family Advisors LLC's holdings, making the stock its 2nd largest position. Oak Family Advisors LLC's holdings in Boeing were worth $12,109,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Aspire Capital Advisors LLC boosted its position in Boeing by 0.8% in the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer's stock worth $1,245,000 after purchasing an additional 45 shares during the last quarter. Lantz Financial LLC lifted its position in shares of Boeing by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer's stock valued at $644,000 after buying an additional 46 shares during the last quarter. Atlas Brown Inc. lifted its position in shares of Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock valued at $1,362,000 after buying an additional 48 shares during the last quarter. Moody National Bank Trust Division lifted its position in shares of Boeing by 2.7% during the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer's stock valued at $385,000 after buying an additional 48 shares during the last quarter. Finally, Monetary Management Group Inc. lifted its position in shares of Boeing by 33.3% during 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 last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Stock Performance

Shares of BA opened at $217.23 on Tuesday. The stock's 50-day simple moving average is $226.29 and its 200 day simple moving average is $203.84. The stock has a market capitalization of $164.26 billion, a price-to-earnings ratio of -13.16 and a beta of 1.48. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The business's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the business earned ($2.90) earnings per share. On average, research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on BA. JPMorgan Chase & Co. upped their price target on Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Citigroup reaffirmed a "buy" rating on shares of Boeing in a research report on Monday, July 28th. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the company a "buy" rating in a research report on Thursday, June 12th. Barclays upped their price target on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Boeing has a consensus rating of "Moderate Buy" and a consensus target price of $230.77.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares in the company, valued at approximately $497,420. The trade was 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.

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.