JB Capital LLC Decreases Stake in The Boeing Company $BA

JB Capital LLC reduced its holdings in shares of The Boeing Company (NYSE:BA) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,177 shares of the aircraft producer’s stock after selling 73 shares during the quarter. JB Capital LLC’s holdings in Boeing were worth $247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Boeing during the 2nd quarter worth approximately $378,459,000. Vanguard Group Inc. boosted its holdings in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after buying an additional 1,212,327 shares in the last quarter. Strs Ohio acquired a new stake in Boeing during the 1st quarter worth about $98,984,000. Canada Pension Plan Investment Board raised its stake in Boeing by 243.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock valued at $128,689,000 after purchasing an additional 535,060 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in shares of Boeing by 938.4% in the second quarter. Valeo Financial Advisors LLC now owns 556,814 shares of the aircraft producer’s stock worth $116,669,000 after purchasing an additional 503,193 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Rothschild & Co Redburn raised shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 target price for the company in a research report on Friday, June 27th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Boeing in a report on Monday, September 29th. Sanford C. Bernstein boosted their target price on shares of Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and raised their price target for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Three equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.91.

Insiders Place Their Bets

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

Boeing Price Performance

Shares of BA stock opened at $211.04 on Friday. The stock’s fifty day simple moving average is $224.29 and its 200 day simple moving average is $206.19. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The firm has a market cap of $159.58 billion, a price-to-earnings ratio of -12.78 and a beta of 1.47.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter in the previous year, the company earned ($2.90) EPS. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Boeing Company 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.