Triumph Capital Management Has $690,000 Stake in The Boeing Company $BA

Key Points

• Triumph Capital Management reduced its stake in The Boeing Company by 60.1% to approximately $690,000, owning 3,295 shares after selling 4,971 shares in Q2.
• Other hedge funds have increased their positions in Boeing, with Byrne Asset Management raising its holdings by 8.2% and MFG Wealth Management increasing by 20.2% in the same period.
• Boeing missed earnings estimates in their latest quarterly report, posting a loss of ($1.24) per share against a consensus of ($0.92), though revenue increased 34.9% year-over-year.

Triumph Capital Management trimmed its holdings in The Boeing Company (NYSE:BA - Free Report) by 60.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,295 shares of the aircraft producer's stock after selling 4,971 shares during the period. Triumph Capital Management's holdings in Boeing were worth $690,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Byrne Asset Management LLC lifted its holdings in Boeing by 8.2% during the 2nd quarter. Byrne Asset Management LLC now owns 4,052 shares of the aircraft producer's stock worth $849,000 after purchasing an additional 307 shares during the last quarter. MFG Wealth Management Inc. lifted its holdings in Boeing by 20.2% during the 2nd quarter. MFG Wealth Management Inc. now owns 14,978 shares of the aircraft producer's stock worth $3,138,000 after purchasing an additional 2,517 shares during the last quarter. Bay Rivers Group lifted its holdings in Boeing by 3.3% during the 2nd quarter. Bay Rivers Group now owns 7,400 shares of the aircraft producer's stock worth $1,551,000 after purchasing an additional 235 shares during the last quarter. Westmount Partners LLC lifted its holdings in Boeing by 5.2% during the 2nd quarter. Westmount Partners LLC now owns 3,408 shares of the aircraft producer's stock worth $714,000 after purchasing an additional 169 shares during the last quarter. Finally, Czech National Bank lifted its holdings in Boeing by 6.9% during the 2nd quarter. Czech National Bank now owns 184,270 shares of the aircraft producer's stock worth $38,610,000 after purchasing an additional 11,941 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Jefferies Financial Group raised their price objective on Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and raised their price objective for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Vertical Research upgraded Boeing from a "hold" rating to a "buy" rating and raised their price objective for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $230.77.

Boeing Stock Performance

Shares of BA opened at $215.73 on Tuesday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The business's fifty day moving average is $228.71 and its 200-day moving average is $199.86. The firm has a market cap of $163.13 billion, a price-to-earnings ratio of -13.07 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter last year, the firm posted ($2.90) EPS. The business's revenue was up 34.9% on a year-over-year basis. As a group, research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In other 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 transaction, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the acquisition, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company's stock.

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.

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