Northwest Investment Counselors LLC lowered its position in The Boeing Company (NYSE:BA – Free Report) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,372 shares of the aircraft producer’s stock after selling 90 shares during the period. Northwest Investment Counselors LLC’s holdings in Boeing were worth $712,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of BA. Grey Fox Wealth Advisors LLC purchased a new position in shares of Boeing in the fourth quarter valued at $25,000. Steward Financial Group LLC acquired a new stake in Boeing in the 4th quarter valued at about $30,000. M&R Capital Management Inc. increased its holdings in Boeing by 90.7% during the 2nd quarter. M&R Capital Management Inc. now owns 143 shares of the aircraft producer’s stock valued at $30,000 after acquiring an additional 68 shares in the last quarter. Raleigh Capital Management Inc. raised its position 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 acquiring an additional 50 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of Boeing in the fourth quarter valued at about $33,000. 61.33% of the stock is owned by hedge funds and other institutional investors.
Boeing Price Performance
BA stock traded down $0.94 during trading on Friday, reaching $208.11. 4,670,575 shares of the stock traded hands, compared to its average volume of 5,649,131. The firm has a market capitalization of $125.20 billion, a PE ratio of -27.79 and a beta of 1.43. The business’s 50 day moving average price is $223.54 and its 200-day moving average price is $213.03. The Boeing Company has a 52-week low of $120.99 and a 52-week high of $243.10.
Analyst Ratings Changes
Several research analysts recently issued reports on BA shares. Citigroup lifted their price objective on Boeing from $248.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Bank of America raised Boeing from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $225.00 to $300.00 in a report on Thursday, July 27th. TheStreet upgraded Boeing from a “d+” rating to a “c-” rating in a research report on Tuesday, August 15th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a report on Tuesday, August 1st. Finally, Morgan Stanley raised their price target on shares of Boeing from $220.00 to $235.00 in a research note on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.13.
Insider Transactions at Boeing
In related news, CEO Theodore Colbert III sold 8,500 shares of Boeing stock in a transaction 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 owns 59,255 shares in the company, valued at approximately $14,124,614.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Steven M. Mollenkopf acquired 850 shares of the stock in a transaction on Monday, July 31st. The stock was bought at an average price of $237.00 per share, with a total value of $201,450.00. Following the completion of the transaction, the director now directly owns 3,767 shares of the company’s stock, valued at $892,779. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Theodore Colbert III sold 8,500 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was 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 disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
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.
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