SVB Wealth LLC Reduces Position in The Boeing Company $BA

SVB Wealth LLC trimmed its position in The Boeing Company (NYSE:BA) by 63.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,275 shares of the aircraft producer’s stock after selling 5,569 shares during the quarter. SVB Wealth LLC’s holdings in Boeing were worth $686,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BA. National Pension Service increased its holdings in shares of Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock valued at $227,365,000 after acquiring an additional 218,049 shares in the last quarter. Alpha Cubed Investments LLC boosted its stake in Boeing by 43.3% in the 2nd quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock worth $754,000 after purchasing an additional 1,088 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Boeing during the 2nd quarter valued at about $62,859,000. Vanguard Group Inc. lifted its stake in shares of Boeing by 1.7% in the second quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock worth $13,991,022,000 after buying an additional 1,118,316 shares in the last quarter. Finally, Vestor Capital LLC increased its position in shares of Boeing by 8,287.4% during the second quarter. Vestor Capital LLC now owns 246,086 shares of the aircraft producer’s stock valued at $51,562,000 after acquiring an additional 243,152 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the topic of several analyst reports. BNP Paribas Exane began coverage on Boeing in a research report on Tuesday, November 18th. They issued an “underperform” rating and a $150.00 price objective on the stock. Vertical Research raised Boeing from a “hold” rating to a “buy” rating and upped their price target for the company from $242.00 to $270.00 in a report on Monday, September 8th. BNP Paribas set a $150.00 price objective on Boeing in a report on Tuesday, November 18th. Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of Boeing in a research report on Monday, September 29th. Finally, New Street Research set a $257.00 target price on shares of Boeing in a research note on Tuesday. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.17.

Boeing Stock Down 2.8%

Boeing stock opened at $200.54 on Wednesday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The company has a market cap of $152.43 billion, a P/E ratio of -14.66 and a beta of 1.18. The business has a 50-day simple moving average of $203.72 and a two-hundred day simple moving average of $214.22.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The firm had revenue of $23.27 billion for the quarter, compared to analysts’ expectations of $21.61 billion. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($10.44) EPS. Research analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 1,366 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the sale, the executive vice president owned 14,656 shares of the company’s stock, valued at $2,896,904.96. The trade was a 8.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Dana S. Deasy bought 554 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the acquisition, the senior vice president owned 28,442 shares in the company, valued at $5,087,704.96. This trade represents a 1.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.09% of the company’s stock.

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.