Valeo Financial Advisors LLC Sells 2,113 Shares of The Boeing Company (NYSE:BA)

Valeo Financial Advisors LLC lowered its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,621 shares of the aircraft producer's stock after selling 2,113 shares during the period. Valeo Financial Advisors LLC's holdings in Boeing were worth $9,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BA. Revolve Wealth Partners LLC acquired a new stake in shares of Boeing during the fourth quarter worth about $201,000. Bank Pictet & Cie Europe AG bought a new position in Boeing in the fourth quarter valued at approximately $7,837,000. Assetmark Inc. boosted its stake in shares of Boeing by 92.4% during the 4th quarter. Assetmark Inc. now owns 2,034 shares of the aircraft producer's stock worth $360,000 after acquiring an additional 977 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $293,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Boeing by 32.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 177,115 shares of the aircraft producer's stock worth $31,349,000 after acquiring an additional 43,426 shares during the period. Institutional investors own 64.82% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Melius upgraded Boeing from a "hold" rating to a "buy" rating in a research note on Monday, March 24th. UBS Group boosted their price target on Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Bank of America raised Boeing from a "neutral" rating to a "buy" rating and upped their target price for the stock from $185.00 to $260.00 in a report on Monday, June 2nd. Morgan Stanley set a $200.00 target price on Boeing and gave the stock an "equal weight" rating in a report on Thursday, June 12th. Finally, Jefferies Financial Group increased their price target on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $216.32.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,899 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the transaction, the executive vice president directly owned 42,513 shares of the company's stock, valued at $7,950,356.13. This trade represents a 8.40% 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 on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the transaction, the executive vice president directly owned 20,513 shares of the company's stock, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock valued at $1,511,370 over the last ninety days. 0.09% of the stock is currently owned by insiders.

Boeing Stock Performance

Shares of Boeing stock traded up $9.22 on Wednesday, hitting $227.74. The company had a trading volume of 8,867,298 shares, compared to its average volume of 8,673,957. The stock has a market capitalization of $171.72 billion, a price-to-earnings ratio of -12.71 and a beta of 1.41. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $228.51. The stock has a 50 day moving average of $203.59 and a 200-day moving average of $181.99.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analysts' expectations of $19.57 billion. The business's revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.13) earnings per share. Equities analysts anticipate 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.