Carlton Hofferkamp & Jenks Wealth Management LLC Reduces Position in The Boeing Company $BA

Carlton Hofferkamp & Jenks Wealth Management LLC reduced its position in The Boeing Company (NYSE:BA) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,718 shares of the aircraft producer’s stock after selling 56 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Boeing were worth $840,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Revolve Wealth Partners LLC acquired a new position in Boeing in the fourth quarter worth about $201,000. GAMMA Investing LLC increased its stake in shares of Boeing by 13.9% during the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer’s stock worth $998,000 after purchasing an additional 716 shares during the last quarter. Pure Financial Advisors LLC lifted its holdings in shares of Boeing by 43.0% during the 1st quarter. Pure Financial Advisors LLC now owns 9,430 shares of the aircraft producer’s stock worth $1,608,000 after acquiring an additional 2,837 shares during the period. Sequoia Financial Advisors LLC increased its position in Boeing by 35.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 33,436 shares of the aircraft producer’s stock valued at $5,702,000 after acquiring an additional 8,676 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in Boeing by 101.1% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 13,929 shares of the aircraft producer’s stock valued at $2,376,000 after acquiring an additional 7,002 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BA. 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 report on Friday, June 27th. UBS Group set a $280.00 target price on shares of Boeing and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Citigroup restated a “buy” rating on shares of Boeing in a research note on Monday, July 28th. Barclays upped their price objective on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Finally, Bank of America lifted their price objective on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $242.32.

Boeing Stock Up 1.5%

Shares of Boeing stock opened at $221.13 on Friday. The firm has a market capitalization of $167.21 billion, a PE ratio of -13.39 and a beta of 1.47. The stock’s fifty day moving average is $221.68 and its 200-day moving average is $210.01. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same period last year, the firm posted ($2.90) EPS. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. Analysts expect that The Boeing Company will post -2.58 EPS for the current year.

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.