Louisiana State Employees Retirement System Sells 500 Shares of The Boeing Company $BA

Louisiana State Employees Retirement System trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,800 shares of the aircraft producer’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Boeing were worth $8,339,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BA. Revolve Wealth Partners LLC bought a new position in shares of Boeing in the 4th quarter worth $201,000. OLD National Bancorp IN lifted its stake in Boeing by 7.0% in the first quarter. OLD National Bancorp IN now owns 6,932 shares of the aircraft producer’s stock valued at $1,182,000 after buying an additional 454 shares during the period. Park Avenue Securities LLC increased its stake in shares of Boeing by 16.0% in the 1st quarter. Park Avenue Securities LLC now owns 13,319 shares of the aircraft producer’s stock valued at $2,272,000 after acquiring an additional 1,833 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Boeing by 44.6% in the 1st 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, Pallas Capital Advisors LLC increased its stake in shares of Boeing by 12.2% in the 1st quarter. Pallas Capital Advisors LLC now owns 2,456 shares of the aircraft producer’s stock valued at $419,000 after acquiring an additional 267 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $250.00 price target on shares of Boeing in a research report on Monday, September 29th. Bank of America lifted their price target on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Citigroup reaffirmed a “buy” rating on shares of Boeing in a research note on Monday, July 28th. Finally, Rothschild & Co Redburn upgraded Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price target for the company in a report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.91.

Insider Transactions at Boeing

In related news, Director Mortimer J. Buckley bought 2,200 shares of the company’s stock in a transaction that occurred on 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 acquisition, 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 transaction 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 company’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. Corporate insiders own 0.09% of the company’s stock.

Boeing Price Performance

BA stock opened at $221.82 on Wednesday. The stock has a market capitalization of $167.73 billion, a P/E ratio of -13.44 and a beta of 1.47. The business has a 50-day moving average of $224.63 and a 200-day moving average of $205.61. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BA) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. The business’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter last year, the firm earned ($2.90) EPS. Equities analysts expect that The Boeing Company will post -2.58 EPS 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.