TriaGen Wealth Management LLC Has $398,000 Position in The Boeing Company (NYSE:BA)

Key Points

• TriaGen Wealth Management LLC significantly reduced its stake in The Boeing Company by 81.5% in the first quarter, holding 2,336 shares valued at $398,000 after selling 10,300 shares.
• Several institutional investors, such as American National Bank & Trust and Dogwood Wealth Management LLC, increased their stakes in Boeing, reflecting a mixed sentiment among investors regarding the company's stock.
• Boeing's recent earnings report showed a revenue of $22.75 billion for the quarter, which exceeded analyst expectations, but the company reported an EPS of ($1.24), missing the consensus estimate.

TriaGen Wealth Management LLC lowered its stake in The Boeing Company (NYSE:BA - Free Report) by 81.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,336 shares of the aircraft producer's stock after selling 10,300 shares during the period. TriaGen Wealth Management LLC's holdings in Boeing were worth $398,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. American National Bank & Trust boosted its stake in Boeing by 474.1% in the first 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 last quarter. REAP Financial Group LLC boosted its stake in Boeing by 60.2% in the fourth 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 last quarter. Dogwood Wealth Management LLC boosted its stake 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 acquiring an additional 112 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Boeing in the fourth quarter valued at approximately $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake 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 acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BA. JPMorgan Chase & Co. raised their price objective on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective on the stock in a research note on Friday, June 27th. TD Securities cut shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Citigroup reissued a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Finally, Susquehanna lifted their price target on shares of Boeing from $265.00 to $270.00 and gave the stock a "positive" rating in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and an average price target of $228.90.

Insider Buying and Selling

In other 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 transaction of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.

Boeing Price Performance

Shares of NYSE:BA opened at $235.31 on Friday. The company's 50-day moving average price is $219.45 and its two-hundred day moving average price is $192.62. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The stock has a market capitalization of $177.93 billion, a PE ratio of -14.25 and a beta of 1.48.

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

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