IVC Wealth Advisors LLC Sells 133 Shares of The Boeing Company $BA

IVC Wealth Advisors LLC reduced its position in The Boeing Company (NYSE:BA) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160 shares of the aircraft producer’s stock after selling 133 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Boeing were worth $243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 1,212,327 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Boeing by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after acquiring an additional 19,615 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Boeing by 3.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock valued at $500,247,000 after acquiring an additional 91,707 shares in the last quarter. Swiss National Bank raised its holdings in shares of Boeing by 2.5% in the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock valued at $359,895,000 after acquiring an additional 51,700 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Boeing by 3.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,968,748 shares of the aircraft producer’s stock valued at $335,770,000 after acquiring an additional 69,560 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Shares of BA stock opened at $216.32 on Friday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The firm has a market capitalization of $163.57 billion, a price-to-earnings ratio of -13.10 and a beta of 1.47. The stock’s 50-day simple moving average is $225.06 and its 200-day simple moving average is $204.98.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The firm 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 earned ($2.90) EPS. The business’s revenue was up 34.9% on a year-over-year basis. As a group, equities analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on BA. Citigroup reiterated a “buy” rating on shares of Boeing in a research note on Monday, July 28th. Redburn Atlantic upgraded Boeing from a “hold” rating to a “strong-buy” rating and lifted their target price for the company from $180.00 to $275.00 in a research note on Friday, June 27th. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. Jefferies Financial Group set a $255.00 target price on Boeing in a research note on Tuesday. Finally, KGI Securities upgraded Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. 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 three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.91.

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.