The Boeing Company $BA Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. trimmed its position in shares of The Boeing Company (NYSE:BA) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,774 shares of the aircraft producer’s stock after selling 102 shares during the quarter. Bridges Investment Management Inc.’s holdings in Boeing were worth $3,096,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Piscataqua Savings Bank increased its holdings in Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 137 shares in the last quarter. Proathlete Wealth Management LLC acquired a new stake in shares of Boeing during the 1st quarter valued at about $34,000. Monetary Management Group Inc. increased its stake in shares of Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after purchasing an additional 50 shares in the last quarter. Keener Financial Planning LLC acquired a new position in Boeing in the 2nd quarter worth about $41,000. Finally, Columbia River Financial Group LLC purchased a new position in Boeing during the first quarter worth approximately $50,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Down 0.1%

Shares of BA opened at $214.08 on Thursday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The stock has a market cap of $161.88 billion, a PE ratio of -12.97 and a beta of 1.47. The firm’s fifty day moving average is $223.73 and its two-hundred day moving average is $206.97.

Boeing (NYSE:BA) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $20.13 billion. The company’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.90) earnings per share. As a group, research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The shares were bought 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 of the company’s stock, valued at $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BA. Morgan Stanley restated an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Boeing in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and increased their price objective for the company from $180.00 to $275.00 in a report on Friday, June 27th. Finally, Jefferies Financial Group set a $255.00 target price on shares of Boeing in a research note on Tuesday, September 30th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $240.20.

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.