Verde Servicos Internacionais S.A. Reduces Holdings in The Boeing Company $BA

Key Points

• Verde Servicos Internacionais S.A. reduced its holdings in Boeing by 21.4%, now owning 41,804 shares worth approximately $8.76 million, ranking Boeing as their 11th largest investment.
• A significant number of other institutional investors, including Piscataqua Savings Bank, increased their Boeing holdings during the second quarter, with Piscataqua growing its position by an impressive 1,712.5%.
• Several brokerage firms have issued positive ratings for Boeing, with price targets ranging from $250 to $282, indicating overall optimism among analysts about the stock's future performance.

Verde Servicos Internacionais S.A. reduced its position in The Boeing Company (NYSE:BA - Free Report) by 21.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,804 shares of the aircraft producer's stock after selling 11,396 shares during the period. Boeing makes up about 3.8% of Verde Servicos Internacionais S.A.'s holdings, making the stock its 11th biggest holding. Verde Servicos Internacionais S.A.'s holdings in Boeing were worth $8,759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BA. Piscataqua Savings Bank grew its position in shares of Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after buying an additional 137 shares in the last quarter. Proathlete Wealth Management LLC acquired a new stake in shares of Boeing in the 1st quarter valued at about $34,000. Monetary Management Group Inc. lifted its position in shares of Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after purchasing an additional 50 shares during the last quarter. Dogwood Wealth Management LLC grew its stake in Boeing by 30.4% in the second quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer's stock worth $52,000 after purchasing an additional 56 shares in the last quarter. Finally, Hilltop National Bank bought a new stake in Boeing in the second quarter valued at about $61,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BA. Susquehanna restated a "positive" rating and set a $270.00 price objective on shares of Boeing in a research note on Monday, September 15th. Sanford C. Bernstein raised their price objective on Boeing from $249.00 to $282.00 and gave the stock an "outperform" rating in a research note on Thursday, October 2nd. Barclays raised their price target on shares of Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. UBS Group set a $280.00 price target on shares of Boeing and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $250.00 price objective on shares of Boeing in a research note on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Boeing presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.91.

Insider Buying and Selling

In related news, Director Mortimer J. Buckley bought 2,200 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, the director directly owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Boeing Stock Performance

NYSE BA opened at $216.48 on Friday. The firm's 50 day moving average price is $224.51 and its two-hundred day moving average price is $205.99. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock has a market cap of $163.69 billion, a price-to-earnings ratio of -13.11 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter last year, the firm earned ($2.90) earnings per share. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. On average, 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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