Jag Capital Management LLC Cuts Stake in The Boeing Company $BA

Jag Capital Management LLC lowered its position in shares of The Boeing Company (NYSE:BA) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,063 shares of the aircraft producer’s stock after selling 110 shares during the period. Jag Capital Management LLC’s holdings in Boeing were worth $432,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. increased its position in Boeing by 14.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,849 shares of the aircraft producer’s stock valued at $5,207,000 after purchasing an additional 3,125 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Boeing by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 65,051 shares of the aircraft producer’s stock valued at $13,630,000 after buying an additional 300 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Boeing by 14.5% during the second quarter. Sequoia Financial Advisors LLC now owns 38,283 shares of the aircraft producer’s stock valued at $8,021,000 after buying an additional 4,847 shares during the period. Vest Financial LLC increased its holdings in Boeing by 39.2% during the second quarter. Vest Financial LLC now owns 15,700 shares of the aircraft producer’s stock valued at $3,290,000 after buying an additional 4,425 shares during the period. Finally, Pegasus Asset Management Inc. increased its holdings in Boeing by 2.3% during the second quarter. Pegasus Asset Management Inc. now owns 13,023 shares of the aircraft producer’s stock valued at $2,729,000 after buying an additional 287 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Activity

In related news, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction that occurred on 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. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, the director owned 2,200 shares of the company’s stock, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Boeing Stock Performance

Shares of BA stock opened at $215.53 on Tuesday. 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 $162.98 billion, a price-to-earnings ratio of -13.05 and a beta of 1.47. The stock’s 50-day simple moving average is $224.15 and its 200-day simple moving average is $206.87.

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. The business’s revenue was up 34.9% on a year-over-year basis. During the same quarter last year, the firm earned ($2.90) EPS. As a group, equities analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Sanford C. Bernstein lifted their target price on Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Vertical Research upgraded Boeing from a “hold” rating to a “buy” rating and lifted their target price for the company from $242.00 to $270.00 in a research note on Monday, September 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a research report on Monday, September 29th. Finally, Citigroup reaffirmed a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.00.

Boeing 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.