State of New Jersey Common Pension Fund D Sells 14,910 Shares of The Boeing Company $BA

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Boeing by 5.6% during the 1st quarter, owning 253,552 shares valued at approximately $43.24 million.
• Insider selling occurred when EVP David Christopher Raymond sold 3,771 shares of Boeing at an average price of $229.94, resulting in a decrease of his ownership position by 9.51%.
• Boeing's recent earnings report revealed a loss of ($1.24) EPS, missing expectations but showing a revenue increase of 34.9% year-over-year.

State of New Jersey Common Pension Fund D decreased its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 253,552 shares of the aircraft producer's stock after selling 14,910 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Boeing were worth $43,243,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. American National Bank & Trust increased its stake 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 worth $26,000 after purchasing an additional 128 shares during the last quarter. REAP Financial Group LLC increased its stake 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 worth $31,000 after purchasing an additional 65 shares during the last quarter. Dogwood Wealth Management LLC increased its stake in shares of 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 last quarter. Heck Capital Advisors LLC acquired a new position in shares of Boeing during the 4th quarter worth $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in Boeing by 122.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 191 shares of the aircraft producer's stock valued at $34,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BA shares. Wall Street Zen lowered shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Benchmark lowered their target price on shares of Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Redburn Atlantic upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating and raised their target price for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Finally, Citigroup reiterated a "buy" rating on shares of Boeing in a research note on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and an average price target of $228.90.

Boeing Stock Performance

Shares of NYSE:BA traded down $7.1650 during midday trading on Tuesday, reaching $225.2450. 4,041,650 shares of the company's stock were exchanged, compared to its average volume of 8,400,414. The company's 50 day simple moving average is $219.75 and its two-hundred day simple moving average is $193.10. The firm has a market capitalization of $170.32 billion, a PE ratio of -13.65 and a beta of 1.48. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69.

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

Boeing 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.