Wealth Alliance Advisory Group LLC Cuts Stake in The Boeing Company $BA

Wealth Alliance Advisory Group LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 15.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,397 shares of the aircraft producer’s stock after selling 600 shares during the period. Wealth Alliance Advisory Group 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. Zimmer Partners LP purchased a new position in Boeing in the fourth quarter valued at approximately $393,736,000. Sculptor Capital LP purchased a new position in Boeing in the fourth quarter valued at approximately $265,500,000. Vanguard Group Inc. raised its holdings in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after buying an additional 1,212,327 shares during the period. GAMMA Investing LLC raised its holdings in Boeing by 19,333.1% in the first quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer’s stock valued at $170,190,000 after buying an additional 992,753 shares during the period. Finally, Strs Ohio purchased a new position in Boeing in the first quarter valued at approximately $98,984,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 1.8%

Shares of NYSE:BA opened at $216.12 on Friday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The company has a 50 day moving average of $228.76 and a two-hundred day moving average of $199.39. The company has a market capitalization of $163.42 billion, a price-to-earnings ratio of -13.09 and a beta of 1.48.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. The company’s revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the business posted ($2.90) EPS. On average, equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on BA. Wall Street Zen lowered shares of Boeing from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and raised their price target for the company from $242.00 to $270.00 in a report on Monday, September 8th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a research report on Thursday, May 22nd. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Finally, Susquehanna increased their price objective on shares of Boeing from $265.00 to $270.00 and gave the company a “positive” rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $230.77.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following 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 currently owned by insiders.

About Boeing

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.