The Boeing Company (NYSE:BA) Shares Sold by Alteri Wealth LLC

Alteri Wealth LLC cut its stake in The Boeing Company (NYSE:BA) by 68.7% in the first quarter, HoldingsChannel reports. The fund owned 14,444 shares of the aircraft producer’s stock after selling 31,693 shares during the period. Boeing accounts for approximately 1.1% of Alteri Wealth LLC’s investment portfolio, making the stock its 16th largest holding. Alteri Wealth LLC’s holdings in Boeing were worth $2,463,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Wood Tarver Financial Group LLC increased its position in shares of Boeing by 14.3% during the first quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer’s stock worth $75,000 after purchasing an additional 55 shares in the last quarter. Byrne Financial Freedom LLC increased its position in shares of Boeing by 3.0% during the first quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer’s stock worth $340,000 after purchasing an additional 58 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in Boeing by 0.3% in the 1st quarter. HighPoint Advisor Group LLC now owns 19,657 shares of the aircraft producer’s stock valued at $3,578,000 after buying an additional 58 shares in the last quarter. Trek Financial LLC grew its holdings in Boeing by 2.7% in the 4th quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer’s stock valued at $408,000 after buying an additional 60 shares in the last quarter. Finally, Colonial Trust Co SC boosted its holdings in Boeing by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 1,042 shares of the aircraft producer’s stock valued at $184,000 after purchasing an additional 60 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

Boeing stock opened at $233.02 on Friday. The stock’s 50-day moving average is $213.01 and its 200-day moving average is $186.85. The company has a market cap of $175.70 billion, a price-to-earnings ratio of -13.00 and a beta of 1.41. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $235.27.

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

Insider Activity

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the sale, the executive vice president directly owned 42,513 shares in the company, valued at $7,950,356.13. The trade was a 8.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president owned 13,258 shares in the company, valued at $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock worth $1,511,370 over the last 90 days. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Sanford C. Bernstein reiterated an “outperform” rating on shares of Boeing in a report on Monday, July 14th. Benchmark lowered their price target on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a report on Monday, April 21st. Wells Fargo & Company reiterated an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. Cowen reiterated a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Finally, Morgan Stanley increased their price target on Boeing from $200.00 to $235.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Four research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.55.

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.