The Boeing Company $BA Stake Reduced by U S Global Investors Inc.

U S Global Investors Inc. reduced its stake in shares of The Boeing Company (NYSE:BA) by 21.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,873 shares of the aircraft producer’s stock after selling 21,131 shares during the quarter. Boeing comprises approximately 1.9% of U S Global Investors Inc.’s holdings, making the stock its 15th largest position. U S Global Investors Inc.’s holdings in Boeing were worth $16,317,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Boeing by 1.9% during the 1st 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock worth $715,979,000 after acquiring an additional 19,615 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Boeing by 3.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock worth $500,247,000 after acquiring an additional 91,707 shares during the period. Swiss National Bank boosted its position in Boeing by 2.5% during the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock worth $359,895,000 after acquiring an additional 51,700 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Boeing by 3.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer’s stock worth $335,770,000 after acquiring an additional 69,560 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mortimer J. Buckley bought 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company’s stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Sanford C. Bernstein boosted their price target on Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. UBS Group set a $280.00 price target on Boeing and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Jefferies Financial Group set a $255.00 price target on Boeing in a research report on Tuesday, September 30th. Bank of America boosted their price target on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Barclays boosted their price target on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $233.91.

Boeing Stock Down 2.3%

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

Boeing (NYSE:BA) last announced its quarterly earnings data 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 firm had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same period last year, the business posted ($2.90) EPS. Analysts anticipate that The Boeing Company will post -2.58 earnings per share 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.