Verdence Capital Advisors LLC Sells 1,735 Shares of The Boeing Company $BA

Key Points

• Verdence Capital Advisors LLC has reduced its stake in The Boeing Company by 14.9%, selling 1,735 shares and now holds 9,879 shares valued at approximately $2,070,000.
• Multiple hedge funds, including Piscataqua Savings Bank and Proathlete Wealth Management, have increased their investments in Boeing, indicating growing institutional confidence as they collectively hold 64.82% of the company's stock.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Boeing, with a price target range between $236.00 and $275.00, reflecting positive sentiment despite recent missed earnings expectations.

Verdence Capital Advisors LLC decreased its holdings in The Boeing Company (NYSE:BA - Free Report) by 14.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,879 shares of the aircraft producer's stock after selling 1,735 shares during the period. Verdence Capital Advisors LLC's holdings in Boeing were worth $2,070,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Piscataqua Savings Bank boosted its stake in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after acquiring an additional 137 shares during the period. Proathlete Wealth Management LLC bought a new position in shares of Boeing in the first quarter worth about $34,000. Monetary Management Group Inc. boosted its stake in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after buying an additional 50 shares during the last quarter. Keener Financial Planning LLC bought a new position in Boeing during the second quarter valued at approximately $41,000. Finally, Dogwood Wealth Management LLC boosted its stake in Boeing by 30.4% during the second quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer's stock valued at $52,000 after buying an additional 56 shares during the last quarter. Institutional investors own 64.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Barclays increased their price target on Boeing from $210.00 to $255.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Jefferies Financial Group set a $255.00 price target on Boeing in a research note on Tuesday, September 30th. Susquehanna reaffirmed a "positive" rating and issued a $270.00 price objective on shares of Boeing in a research note on Monday, September 15th. Finally, Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective for the company in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.00.

Boeing Stock Up 2.3%

Shares of NYSE BA opened at $215.53 on Tuesday. The business has a fifty day simple moving average of $224.15 and a two-hundred day simple moving average of $206.87. The firm has a market cap of $162.98 billion, a PE ratio of -13.05 and a beta of 1.47. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share 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 in the previous year, the business posted ($2.90) earnings per share. The firm's quarterly revenue was up 34.9% compared to the same quarter last year. On average, research analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley bought 2,200 shares of the company'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 purchase, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This 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 insiders.

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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