Tritonpoint Wealth LLC Sells 1,254 Shares of The Boeing Company $BA

Key Points

• Tritonpoint Wealth LLC reduced its holdings in Boeing by 2.6% in Q2, selling 1,254 shares and now owns a total of 47,072 shares valued at approximately $9.86 million.
• Institutional investors now hold about 64.82% of Boeing's stock, with several firms adjusting their positions, including Sonora Investment Management which increased its stake by 55.3%.
• Boeing's recent earnings report revealed a loss of ($1.24) EPS, missing analysts' expectations, but its revenue rose significantly by 34.9% year-over-year to $22.75 billion.

Tritonpoint Wealth LLC trimmed its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,072 shares of the aircraft producer's stock after selling 1,254 shares during the quarter. Boeing accounts for about 0.9% of Tritonpoint Wealth LLC's holdings, making the stock its 26th largest position. Tritonpoint Wealth LLC's holdings in Boeing were worth $9,863,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sonora Investment Management Group LLC raised its stake in shares of Boeing by 55.3% during the 2nd quarter. Sonora Investment Management Group LLC now owns 8,923 shares of the aircraft producer's stock valued at $1,870,000 after purchasing an additional 3,177 shares during the period. Stockman Wealth Management Inc. bought a new stake in shares of Boeing during the 2nd quarter valued at $234,000. Guardian Investment Management grew its position in Boeing by 2.2% during the second quarter. Guardian Investment Management now owns 7,100 shares of the aircraft producer's stock worth $1,488,000 after buying an additional 150 shares in the last quarter. Worth Financial Advisory Group LLC grew its position in Boeing by 12.2% during the second quarter. Worth Financial Advisory Group LLC now owns 1,624 shares of the aircraft producer's stock worth $340,000 after buying an additional 177 shares in the last quarter. Finally, Uncommon Cents Investing LLC grew its position in Boeing by 2.6% during the second quarter. Uncommon Cents Investing LLC now owns 8,365 shares of the aircraft producer's stock worth $1,753,000 after buying an additional 215 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares of the company's stock, valued at $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 available at this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares of the company's stock, valued at $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BA. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. Citigroup restated a "buy" rating on shares of Boeing in a report on Monday, July 28th. Vertical Research raised Boeing from a "hold" rating to a "buy" rating and upped their price target for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and increased their target price for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Finally, KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $230.77.

Boeing Trading Up 3.6%

Boeing stock opened at $221.28 on Friday. The firm has a market cap of $167.32 billion, a price-to-earnings ratio of -13.40 and a beta of 1.48. The stock has a fifty day simple moving average of $226.53 and a two-hundred day simple moving average of $203.15. 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 posted its earnings results 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 business had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. During the same period last year, the firm posted ($2.90) earnings per share. The company's quarterly revenue was up 34.9% on a year-over-year basis. On average, equities research analysts forecast that The Boeing Company will post -2.58 EPS 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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