The Boeing Company $BA Holdings Decreased by Prostatis Group LLC

Prostatis Group LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 32.2% during the second quarter, Holdings Channel.com reports. The firm owned 4,984 shares of the aircraft producer’s stock after selling 2,366 shares during the period. Prostatis Group LLC’s holdings in Boeing were worth $1,044,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vestcor Inc raised its position in Boeing by 9.0% in the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock worth $2,471,000 after acquiring an additional 1,195 shares in the last quarter. National Pension Service raised its holdings in Boeing by 19.6% during the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock worth $227,365,000 after buying an additional 218,049 shares during the period. MFG Wealth Management Inc. purchased a new position in Boeing during the 1st quarter valued at about $2,125,000. McElhenny Sheffield Capital Management LLC purchased a new position in Boeing during the 2nd quarter valued at about $62,859,000. Finally, Kelman Lazarov Inc. purchased a new position in Boeing during the 1st quarter valued at about $262,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Shares of NYSE:BA opened at $211.04 on Friday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The firm has a market cap of $159.58 billion, a PE ratio of -12.78 and a beta of 1.47. The business has a fifty day moving average of $224.29 and a 200-day moving average of $206.38.

Boeing (NYSE:BA) last announced 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 firm had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the previous year, the business posted ($2.90) EPS. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the firm’s 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 owned 35,873 shares in the company, 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 company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BA. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Vertical Research upgraded Boeing from a “hold” rating to a “buy” rating and upped their price target for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Barclays upped their price target on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Jefferies Financial Group set a $255.00 price target on Boeing in a report on Tuesday, September 30th. Finally, Rothschild & Co Redburn upgraded Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price target for the company in a report on Friday, June 27th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.