BigSur Wealth Management LLC Reduces Holdings in The Boeing Company $BA

BigSur Wealth Management LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 34.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,680 shares of the aircraft producer’s stock after selling 2,500 shares during the quarter. BigSur Wealth Management LLC’s holdings in Boeing were worth $981,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BA. Level Financial Advisors purchased a new position in shares of Boeing during the second quarter worth about $227,000. Perennial Advisors LLC acquired a new stake in shares of Boeing in the 2nd quarter valued at about $224,000. Pitti Group Wealth Management LLC grew its stake in Boeing by 1.7% during the 2nd quarter. Pitti Group Wealth Management LLC now owns 12,122 shares of the aircraft producer’s stock worth $2,540,000 after buying an additional 206 shares during the last quarter. Spectrum Planning & Advisory Services Inc. purchased a new position in Boeing during the 2nd quarter worth approximately $344,000. Finally, Aspire Capital Advisors LLC increased its position in Boeing by 0.8% during the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock worth $1,245,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insiders Place Their Bets

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the 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 completion of the transaction, the executive vice president directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This 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 company insiders.

Boeing Stock Down 0.5%

NYSE BA opened at $215.36 on Thursday. The stock has a market capitalization of $162.84 billion, a P/E ratio of -13.04 and a beta of 1.48. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The firm has a 50-day moving average price of $227.04 and a 200 day moving average price of $201.93.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) 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 company’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period last year, the business posted ($2.90) earnings per share. On average, equities research analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BA. Royal Bank Of Canada restated an “outperform” rating and set a $250.00 target price on shares of Boeing in a research report on Wednesday, July 30th. Citigroup reiterated a “buy” rating on shares of Boeing in a research note on Monday, July 28th. Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from $180.00 to $275.00 in a research note 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 note on Wednesday, July 30th. Finally, Barclays boosted their price target on Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $230.77.

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.