Grassi Investment Management Trims Position in The Boeing Company (NYSE:BA)

Grassi Investment Management lessened its stake in shares of The Boeing Company (NYSE:BA) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,645 shares of the aircraft producer’s stock after selling 200 shares during the period. Boeing accounts for approximately 1.2% of Grassi Investment Management’s portfolio, making the stock its 28th biggest position. Grassi Investment Management’s holdings in Boeing were worth $10,905,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BA. Grey Fox Wealth Advisors LLC purchased a new stake in Boeing in the 4th quarter valued at about $25,000. Steward Financial Group LLC purchased a new stake in Boeing in the 4th quarter valued at about $30,000. M&R Capital Management Inc. raised its holdings in Boeing by 90.7% in the 2nd quarter. M&R Capital Management Inc. now owns 143 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 68 shares during the period. Raleigh Capital Management Inc. raised its holdings in Boeing by 48.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 153 shares of the aircraft producer’s stock valued at $33,000 after buying an additional 50 shares during the period. Finally, True Wealth Design LLC purchased a new stake in Boeing in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 61.33% of the company’s stock.

Insider Activity at Boeing

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

Boeing Stock Down 0.1 %

Shares of BA opened at $207.90 on Monday. The stock has a 50 day moving average price of $223.54 and a 200 day moving average price of $213.09. The company has a market capitalization of $125.07 billion, a price-to-earnings ratio of -27.79 and a beta of 1.43. The Boeing Company has a 52-week low of $120.99 and a 52-week high of $243.10.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Boeing from $250.00 to $275.00 and gave the company a “buy” rating in a report on Monday, July 31st. Wells Fargo & Company boosted their price objective on shares of Boeing from $250.00 to $270.00 in a report on Tuesday, August 8th. SpectralCast reaffirmed a “reiterates” rating on shares of Boeing in a research report on Wednesday, June 21st. JPMorgan Chase & Co. lifted their target price on Boeing from $225.00 to $245.00 in a research report on Thursday, July 27th. Finally, TheStreet raised Boeing from a “d+” rating to a “c-” rating in a research report on Tuesday, August 15th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $245.13.

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.