The Boeing Company (NYSE:BA) Shares Sold by Azimuth Capital Investment Management LLC

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in Boeing by 2.0% in the first quarter, selling 1,916 shares, but retained holdings valued at $15.7 million.
• Boeing ended the last quarter with a market capitalization of $176.47 billion and a share price opening at $233.38, while its earnings report showed a larger revenue than expected but a miss on earnings per share.
• Analysts have varying ratings for Boeing, with a consensus of "Moderate Buy" and a target price of $228.90, alongside significant institutional ownership at 64.82%.

Azimuth Capital Investment Management LLC cut its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 2.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 92,043 shares of the aircraft producer's stock after selling 1,916 shares during the period. Azimuth Capital Investment Management LLC's holdings in Boeing were worth $15,698,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new stake in shares of Boeing in the fourth quarter valued at about $201,000. Bank Pictet & Cie Europe AG purchased a new stake in shares of Boeing in the fourth quarter valued at about $7,837,000. Summit Investment Advisors Inc. grew its holdings in shares of Boeing by 22.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,284 shares of the aircraft producer's stock valued at $1,289,000 after purchasing an additional 1,355 shares during the period. CreativeOne Wealth LLC grew its holdings in shares of Boeing by 18.5% in the fourth quarter. CreativeOne Wealth LLC now owns 7,003 shares of the aircraft producer's stock valued at $1,240,000 after purchasing an additional 1,092 shares during the period. Finally, Guggenheim Capital LLC grew its holdings in shares of Boeing by 34.5% in the fourth quarter. Guggenheim Capital LLC now owns 22,477 shares of the aircraft producer's stock valued at $3,978,000 after purchasing an additional 5,760 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BA has been the subject of a number of analyst reports. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and upped their price objective for the company from $180.00 to $275.00 in a report on Friday, June 27th. Citigroup reissued a "buy" rating on shares of Boeing in a report on Monday, July 28th. TD Securities lowered shares of Boeing to a "cautious" rating in a report on Thursday, May 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $250.00 target price on shares of Boeing in a research note on Wednesday, July 30th. Finally, Wall Street Zen lowered shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Boeing currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.90.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of the firm'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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Boeing Stock Performance

Shares of BA opened at $233.38 on Friday. The stock has a market capitalization of $176.47 billion, a PE ratio of -14.14 and a beta of 1.48. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The company's 50-day simple moving average is $218.96 and its 200-day simple moving average is $192.09.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. The firm's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the business posted ($2.90) earnings per share. On average, sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current 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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