The Boeing Company (NYSE:BA) Shares Sold by Levin Capital Strategies L.P.

Key Points

• Levin Capital Strategies L.P. has decreased its holdings in Boeing by 52.3%, now owning 7,315 shares valued at approximately $1.25 million.
• Several institutional investors have significantly increased their stakes in Boeing, with American National Bank & Trust lifting its position by 474.1% during the same period.
• Boeing's earnings report revealed a loss of ($1.24) per share, missing expectations, but the company's revenue increased by 34.9% year-over-year.

Levin Capital Strategies L.P. decreased its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 52.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,315 shares of the aircraft producer's stock after selling 8,012 shares during the period. Levin Capital Strategies L.P.'s holdings in Boeing were worth $1,248,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. American National Bank & Trust lifted its position in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after acquiring an additional 128 shares during the period. REAP Financial Group LLC lifted its position in shares of Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after acquiring an additional 65 shares during the period. Dogwood Wealth Management LLC grew its holdings in Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 112 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Boeing in the fourth quarter valued at $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in Boeing by 122.1% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 191 shares of the aircraft producer's stock valued at $34,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Analysts Set New Price Targets

BA has been the topic of several research reports. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. JPMorgan Chase & Co. increased their price target on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target on the stock in a research report on Friday, June 27th. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the company a "buy" rating in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $228.90.

Insider Activity at Boeing

In related news, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president directly owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the sale, the executive vice president directly owned 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% 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 company insiders.

Boeing Price Performance

NYSE:BA opened at $222.24 on Tuesday. The firm has a 50 day simple moving average of $215.62 and a 200-day simple moving average of $189.33. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The firm has a market cap of $168.05 billion, a PE ratio of -13.46 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) 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 analyst estimates of $20.13 billion. During the same quarter in the previous year, the company earned ($2.90) earnings per share. The business's revenue was up 34.9% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -2.58 earnings per share 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.

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