Ameritas Advisory Services LLC Trims Stake in The Boeing Company $BA

Ameritas Advisory Services LLC reduced its holdings in shares of The Boeing Company (NYSE:BA) by 23.6% in the second quarter, Holdings Channel reports. The institutional investor owned 13,032 shares of the aircraft producer’s stock after selling 4,023 shares during the period. Ameritas Advisory Services LLC’s holdings in Boeing were worth $2,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Boeing by 14.1% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,416 shares of the aircraft producer’s stock valued at $3,230,000 after buying an additional 1,904 shares during the last quarter. Ashton Thomas Securities LLC increased its stake in shares of Boeing by 3.9% in the second quarter. Ashton Thomas Securities LLC now owns 10,056 shares of the aircraft producer’s stock worth $2,107,000 after purchasing an additional 379 shares in the last quarter. Crews Bank & Trust increased its stake in shares of Boeing by 17.6% in the second quarter. Crews Bank & Trust now owns 367 shares of the aircraft producer’s stock worth $77,000 after purchasing an additional 55 shares in the last quarter. Hilltop National Bank purchased a new stake in shares of Boeing in the second quarter worth $61,000. Finally, Hardman Johnston Global Advisors LLC purchased a new stake in shares of Boeing in the second quarter worth $416,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired 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 trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the 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 transaction, the executive vice president 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 company insiders.

Boeing Stock Performance

Shares of NYSE:BA opened at $216.32 on Friday. The firm has a fifty day moving average price of $225.06 and a 200 day moving average price of $204.76. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The firm has a market cap of $163.57 billion, a price-to-earnings ratio of -13.10 and a beta of 1.47.

Boeing (NYSE:BA) 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 company had revenue of $22.75 billion for the quarter, compared to analysts’ expectations of $20.13 billion. During the same period last year, the company posted ($2.90) EPS. The business’s revenue was up 34.9% compared to the same quarter last year. As a group, research analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BA shares. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and increased their price objective for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Finally, Sanford C. Bernstein increased their price objective on shares of Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research note on Thursday. Three investment 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.91.

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.