Octavia Wealth Advisors LLC Decreases Stock Position in The Boeing Company (NYSE:BA)

Octavia Wealth Advisors LLC lessened its stake in The Boeing Company (NYSE:BA) by 25.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,269 shares of the aircraft producer’s stock after selling 438 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Boeing were worth $216,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BA. Tounjian Advisory Partners LLC acquired a new position in Boeing in the 1st quarter valued at approximately $973,000. Pallas Capital Advisors LLC grew its holdings in Boeing by 12.2% during the 1st quarter. Pallas Capital Advisors LLC now owns 2,456 shares of the aircraft producer’s stock worth $419,000 after acquiring an additional 267 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in Boeing by 2.8% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 3,654 shares of the aircraft producer’s stock valued at $623,000 after acquiring an additional 100 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Boeing by 44.6% in the first quarter. Farther Finance Advisors LLC now owns 10,803 shares of the aircraft producer’s stock valued at $1,817,000 after acquiring an additional 3,330 shares during the last quarter. Finally, Rheos Capital Works Inc. boosted its holdings in Boeing by 113.6% during the first quarter. Rheos Capital Works Inc. now owns 56,400 shares of the aircraft producer’s stock worth $9,619,000 after buying an additional 30,000 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BA has been the topic of a number of analyst reports. Jefferies Financial Group upped their price objective on Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Melius Research set a $204.00 price target on shares of Boeing in a report on Monday, March 24th. Royal Bank of Canada boosted their target price on shares of Boeing from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Monday. Sanford C. Bernstein raised Boeing from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $181.00 to $218.00 in a research report on Monday, April 28th. Finally, Cowen reissued a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $209.35.

Insider Buying and Selling at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the transaction, the executive vice president now owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brendan J. Nelson sold 640 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president now owns 13,258 shares in the company, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,744 shares of company stock valued at $1,511,370. Corporate insiders own 0.09% of the company’s stock.

Boeing Price Performance

Shares of NYSE BA opened at $217.45 on Tuesday. The company’s 50-day moving average is $183.57 and its 200 day moving average is $175.53. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $218.80. The stock has a market capitalization of $163.96 billion, a P/E ratio of -11.87 and a beta of 1.43.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.13) EPS. Research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

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 Commercial Airplanes; Defense, Space & Security; and Global Services segments.