Teacher Retirement System of Texas Decreases Stock Holdings in The Boeing Company $BA

Teacher Retirement System of Texas trimmed its position in shares of The Boeing Company (NYSE:BA) by 8.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,847 shares of the aircraft producer’s stock after selling 12,250 shares during the period. Teacher Retirement System of Texas’ holdings in Boeing were worth $27,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Harbor Asset Planning Inc. purchased a new stake in shares of Boeing during the 2nd quarter worth approximately $25,000. Piscataqua Savings Bank increased its position in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares during the last quarter. Monetary Management Group Inc. increased its position in shares of Boeing by 33.3% during 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 during the last quarter. IMG Wealth Management Inc. increased its position in shares of Boeing by 159.4% during the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after purchasing an additional 110 shares during the last quarter. Finally, Keener Financial Planning LLC bought a new position in shares of Boeing during the 2nd quarter valued at approximately $41,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,771 shares of the 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 transaction, the executive vice president owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BA has been the topic of several analyst reports. UBS Group set a $280.00 target price on Boeing and gave the company a “buy” rating in a research report on Wednesday, July 30th. Susquehanna reissued a “positive” rating and set a $270.00 target price on shares of Boeing in a research report on Monday, September 15th. Sanford C. Bernstein boosted their target price on Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Jefferies Financial Group set a $255.00 price objective on Boeing in a research report on Tuesday, September 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average target price of $242.32.

Boeing Trading Up 0.7%

BA opened at $223.01 on Tuesday. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The business’s fifty day simple moving average is $221.49 and its 200-day simple moving average is $211.29. The company has a market capitalization of $168.63 billion, a price-to-earnings ratio of -13.51 and a beta of 1.47.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) 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 analyst estimates of $20.13 billion. During the same quarter last year, the firm earned ($2.90) earnings per share. The company’s quarterly revenue was up 34.9% on a year-over-year basis. On average, equities research analysts predict 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.