Westchester Capital Management Inc. Has $2.10 Million Stock Holdings in The Boeing Company $BA

Westchester Capital Management Inc. lessened its holdings in shares of The Boeing Company (NYSE:BA) by 0.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 10,009 shares of the aircraft producer’s stock after selling 55 shares during the period. Boeing accounts for 0.5% of Westchester Capital Management Inc.’s portfolio, making the stock its 27th largest position. Westchester Capital Management Inc.’s holdings in Boeing were worth $2,097,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Aspire Capital Advisors LLC grew its position in shares of Boeing by 0.8% during the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock worth $1,245,000 after purchasing an additional 45 shares in the last quarter. Lantz Financial LLC grew its position in shares of Boeing by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock worth $644,000 after purchasing an additional 46 shares in the last quarter. Atlas Brown Inc. grew its position in shares of Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock worth $1,362,000 after purchasing an additional 48 shares in the last quarter. Moody National Bank Trust Division grew its position in shares of Boeing by 2.7% during the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer’s stock worth $385,000 after purchasing an additional 48 shares in the last quarter. Finally, Heck Capital Advisors LLC grew its position in shares of Boeing by 3.6% during the 2nd quarter. Heck Capital Advisors LLC now owns 1,398 shares of the aircraft producer’s stock worth $293,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on BA shares. Jefferies Financial Group set a $255.00 price target on shares of Boeing in a report on Tuesday, September 30th. Sanford C. Bernstein upped their price target on shares of Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Susquehanna reaffirmed a “positive” rating and set a $270.00 price target on shares of Boeing in a report on Monday, September 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of Boeing in a report on Monday, September 29th. Finally, Rothschild & Co Redburn raised shares of 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 issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $233.91.

Insider Activity at Boeing

In related news, Director Mortimer J. Buckley acquired 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director directly owned 2,200 shares in the company, valued at approximately $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 link. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Boeing Price Performance

Shares of NYSE:BA opened at $211.04 on Monday. The company has a market cap of $159.58 billion, a price-to-earnings ratio of -12.78 and a beta of 1.47. The firm has a 50 day simple moving average of $224.29 and a 200 day simple moving average of $206.57. The Boeing Company has a one year low of $128.88 and a one year high of $242.69.

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

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.