Morton Capital Management LLC CA Trims Holdings in The Boeing Company $BA

Morton Capital Management LLC CA lowered its holdings in The Boeing Company (NYSE:BA) by 15.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,376 shares of the aircraft producer’s stock after selling 250 shares during the period. Morton Capital Management LLC CA’s holdings in Boeing were worth $288,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Piscataqua Savings Bank grew its holdings in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares in the last quarter. Proathlete Wealth Management LLC acquired a new position in shares of Boeing in the first quarter valued at approximately $34,000. Monetary Management Group Inc. grew its holdings in shares of Boeing by 33.3% in the first 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 in the last quarter. Dogwood Wealth Management LLC grew its holdings in shares of Boeing by 30.4% in the second quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer’s stock valued at $52,000 after purchasing an additional 56 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Boeing in the second quarter valued at approximately $61,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Up 1.0%

Shares of BA opened at $221.82 on Wednesday. The company has a market capitalization of $167.73 billion, a PE ratio of -13.44 and a beta of 1.47. 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 simple moving average of $224.63 and a 200-day simple moving average of $205.61.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) 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 analysts’ expectations of $20.13 billion. The company’s revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.90) earnings per share. On average, research analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BA. Sanford C. Bernstein upped their target price on shares of Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and upped their price objective for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Rothschild & Co Redburn upgraded shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective for the company in a research report on Friday, June 27th. UBS Group set a $280.00 price target on shares of Boeing and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Citigroup reiterated a “buy” rating on shares of Boeing in a report on Monday, July 28th. Three equities 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 issued a Sell rating to the company. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus target price 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.