Independent Investors Inc. Decreases Stock Position in The Boeing Company $BA

Independent Investors Inc. lessened its position in The Boeing Company (NYSE:BA) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,461 shares of the aircraft producer’s stock after selling 100 shares during the quarter. Boeing comprises 1.4% of Independent Investors Inc.’s holdings, making the stock its 14th largest position. Independent Investors Inc.’s holdings in Boeing were worth $6,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BA. Revolve Wealth Partners LLC purchased a new position in shares of Boeing in the fourth quarter valued at approximately $201,000. American National Bank & Trust lifted its position in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after acquiring an additional 128 shares in the last quarter. Gradient Investments LLC lifted its position in Boeing by 1.9% during the first quarter. Gradient Investments LLC now owns 5,513 shares of the aircraft producer’s stock worth $940,000 after buying an additional 104 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in Boeing by 18.9% during the first quarter. Harbor Investment Advisory LLC now owns 2,536 shares of the aircraft producer’s stock worth $433,000 after buying an additional 404 shares in the last quarter. Finally, Merit Financial Group LLC lifted its position in Boeing by 9.1% during the first quarter. Merit Financial Group LLC now owns 18,511 shares of the aircraft producer’s stock worth $3,157,000 after buying an additional 1,551 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction 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 $8,248,637.62. The trade was a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the stock in a transaction that occurred 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 completion of the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the topic of a number of analyst reports. Bank of America lifted their price objective on Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Susquehanna reiterated a “positive” rating and set a $270.00 price objective on shares of Boeing in a research report on Monday, September 15th. UBS Group set a $280.00 price objective on Boeing and gave the stock a “buy” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group set a $212.00 target price on Boeing and gave the stock a “buy” rating in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $231.00.

Boeing Stock Down 0.6%

BA stock opened at $215.88 on Wednesday. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69. The business has a fifty day moving average of $226.04 and a two-hundred day moving average of $203.92. The stock has a market cap of $163.24 billion, a price-to-earnings ratio of -13.08 and a beta of 1.48.

Boeing (NYSE:BA) last issued its quarterly earnings data 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. During the same period in the previous year, the firm earned ($2.90) earnings per share. The company’s quarterly revenue was up 34.9% on a year-over-year basis. As a group, sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

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.