Belpointe Asset Management LLC Sells 417 Shares of The Boeing Company $BA

Belpointe Asset Management LLC trimmed its stake in shares of The Boeing Company (NYSE:BA) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,134 shares of the aircraft producer’s stock after selling 417 shares during the quarter. Belpointe Asset Management LLC’s holdings in Boeing were worth $2,069,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Monetary Management Group Inc. raised its stake in shares of Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after purchasing an additional 50 shares during the period. Anchor Investment Management LLC raised its stake in shares of Boeing by 0.9% during the 1st quarter. Anchor Investment Management LLC now owns 5,411 shares of the aircraft producer’s stock valued at $923,000 after purchasing an additional 50 shares during the period. Heritage Financial Services LLC raised its stake in shares of Boeing by 4.2% during the 1st quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer’s stock valued at $216,000 after purchasing an additional 51 shares during the period. Wood Tarver Financial Group LLC raised its stake in shares of Boeing by 14.3% during the 1st quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer’s stock valued at $75,000 after purchasing an additional 55 shares during the period. Finally, Signature Wealth Management Partners LLC increased its stake in Boeing by 2.0% in the 1st quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer’s stock worth $493,000 after acquiring an additional 57 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Boeing from a “hold” rating to a “sell” rating in a research note on Saturday, May 17th. Bank of America upped their target price on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. KGI Securities upgraded Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the stock a “buy” rating in a research note on Thursday, June 12th. Finally, Citigroup reiterated a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $230.77.

Boeing Trading Down 0.9%

Shares of Boeing stock opened at $227.41 on Thursday. The firm has a market capitalization of $171.96 billion, a PE ratio of -13.77 and a beta of 1.48. The business’s 50-day moving average price is $228.66 and its 200-day moving average price is $198.67. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. During the same quarter last year, the firm posted ($2.90) EPS. Boeing’s revenue was up 34.9% compared to the same quarter last year. As a group, analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In other news, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the purchase, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company 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 Commercial Airplanes; Defense, Space & Security; and Global Services segments.