Pacer Advisors Inc. Sells 23,246 Shares of The Boeing Company (NYSE:BA)

Key Points

• Pacer Advisors Inc. reduced its stake in Boeing by 28.6%, selling 23,246 shares, leaving them with 58,061 shares worth approximately $9.9 million.
• Multiple hedge funds have altered their Boeing positions, with Wood Tarver Financial increasing its stake by 14.3%, while institutional investors now hold 64.82% of Boeing's stock.
• Recent analyst ratings for Boeing show a consensus of "Moderate Buy," with target prices ranging from $215 to $270, indicating mixed outlooks among analysts.

Pacer Advisors Inc. reduced its position in The Boeing Company (NYSE:BA - Free Report) by 28.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,061 shares of the aircraft producer's stock after selling 23,246 shares during the quarter. Pacer Advisors Inc.'s holdings in Boeing were worth $9,902,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BA. American National Bank & Trust grew its stake in 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 in the last quarter. REAP Financial Group LLC increased its position in shares of Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after purchasing an additional 65 shares during the last quarter. Dogwood Wealth Management LLC boosted its stake in Boeing by 167.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after purchasing an additional 112 shares during the period. Solstein Capital LLC acquired a new stake in shares of Boeing in the fourth quarter valued at about $33,000. Finally, Heck Capital Advisors LLC purchased a new position in Boeing during the 4th quarter valued at about $33,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the 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 of the company's stock, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was 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. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,744 shares of company stock worth $1,511,370. Corporate insiders own 0.09% of the company's stock.

Boeing Stock Down 1.3%

Shares of NYSE:BA traded down $2.99 during trading on Thursday, reaching $222.85. The stock had a trading volume of 3,272,684 shares, compared to its average volume of 8,595,860. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69. The firm has a market capitalization of $168.03 billion, a price-to-earnings ratio of -13.49 and a beta of 1.41. The stock has a fifty day simple moving average of $214.47 and a two-hundred day simple moving average of $187.94.

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

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent analyst reports. Barclays boosted their target price on shares of Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a report on Wednesday. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a report on Monday. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and boosted their target price for the company from $180.00 to $275.00 in a report on Friday, June 27th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $228.73.

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.