Beese Fulmer Investment Management Inc. Reduces Stock Holdings in The Boeing Company (NYSE:BA)

Beese Fulmer Investment Management Inc. lowered its position in The Boeing Company (NYSE:BA) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,984 shares of the aircraft producer’s stock after selling 301 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Boeing were worth $8,865,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Grey Fox Wealth Advisors LLC purchased a new position in Boeing during the fourth quarter worth about $25,000. Steward Financial Group LLC purchased a new position in Boeing during the fourth quarter worth about $30,000. M&R Capital Management Inc. boosted its stake in Boeing by 90.7% during the second quarter. M&R Capital Management Inc. now owns 143 shares of the aircraft producer’s stock worth $30,000 after buying an additional 68 shares during the period. Raleigh Capital Management Inc. boosted its stake in Boeing by 48.5% during the first quarter. Raleigh Capital Management Inc. now owns 153 shares of the aircraft producer’s stock worth $33,000 after buying an additional 50 shares during the period. Finally, True Wealth Design LLC purchased a new position in Boeing during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 61.33% of the company’s stock.

Boeing Stock Performance

BA stock traded down $0.94 during midday trading on Friday, reaching $208.11. 4,670,575 shares of the company were exchanged, compared to its average volume of 5,649,131. The Boeing Company has a 1-year low of $120.99 and a 1-year high of $243.10. The stock’s 50-day simple moving average is $223.54 and its 200 day simple moving average is $213.03. The company has a market cap of $125.20 billion, a price-to-earnings ratio of -27.79 and a beta of 1.43.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported ($0.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.17. The company had revenue of $19.75 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period in the previous year, the business posted ($0.37) EPS. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, research analysts anticipate that The Boeing Company will post -2.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BA shares. Citigroup increased their target price on shares of Boeing from $248.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. TheStreet raised shares of Boeing from a “d+” rating to a “c-” rating in a research report on Tuesday, August 15th. Morgan Stanley increased their price target on shares of Boeing from $220.00 to $235.00 in a research report on Thursday, July 27th. StockNews.com assumed coverage on shares of Boeing in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $245.13.

Insiders Place Their Bets

In other Boeing news, CEO Theodore Colbert III sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $238.37, for a total transaction of $2,026,145.00. Following the sale, the chief executive officer now owns 59,255 shares of the company’s stock, valued at $14,124,614.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Theodore Colbert III sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $238.37, for a total transaction of $2,026,145.00. Following the transaction, the chief executive officer now directly owns 59,255 shares in the company, valued at $14,124,614.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven M. Mollenkopf bought 850 shares of the stock in a transaction dated Monday, July 31st. The shares were acquired at an average price of $237.00 per share, for a total transaction of $201,450.00. Following the completion of the transaction, the director now owns 3,767 shares of the company’s stock, valued at approximately $892,779. The disclosure for this purchase can be found here. 0.15% of the stock is owned by corporate insiders.

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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.