Johnson Investment Counsel Inc. Cuts Holdings in The Boeing Company $BA

Johnson Investment Counsel Inc. decreased its position in The Boeing Company (NYSE:BA) by 0.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,835 shares of the aircraft producer’s stock after selling 184 shares during the period. Johnson Investment Counsel Inc.’s holdings in Boeing were worth $7,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after buying an additional 1,212,327 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Boeing by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after buying an additional 19,615 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Boeing by 3.2% in the first 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 valued at $500,247,000 after buying an additional 91,707 shares in the last quarter. Swiss National Bank increased its holdings in Boeing by 2.5% in the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock valued at $359,895,000 after buying an additional 51,700 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Boeing by 3.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer’s stock valued at $335,770,000 after buying an additional 69,560 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 2.3%

BA opened at $211.04 on Monday. The firm has a market capitalization of $159.58 billion, a PE ratio of -12.78 and a beta of 1.47. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The firm’s 50-day moving average price is $224.29 and its 200 day moving average price is $206.57.

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 analysts’ consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analysts’ expectations of $20.13 billion. The company’s revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.90) EPS. As a group, analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on BA. Barclays lifted their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Bank of America lifted their target price on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a research report on Tuesday, September 30th. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and lifted their target price for the company from $242.00 to $270.00 in a research report on Monday, September 8th. Finally, Rothschild & Co Redburn upgraded shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 target price on the stock in a research report on Friday, June 27th. Three 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.91.

Insider Transactions at Boeing

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director owned 2,200 shares of the company’s stock, valued at $497,420. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction dated 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 owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

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.