Golden State Wealth Management LLC Sells 486 Shares of The Boeing Company $BA

Golden State Wealth Management LLC cut its stake in shares of The Boeing Company (NYSE:BA) by 9.3% in the second quarter, Holdings Channel reports. The firm owned 4,764 shares of the aircraft producer’s stock after selling 486 shares during the quarter. Golden State Wealth Management LLC’s holdings in Boeing were worth $998,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vestcor Inc boosted its stake in Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock worth $2,471,000 after acquiring an additional 1,195 shares during the last quarter. National Pension Service increased its stake in Boeing by 19.6% in the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock valued at $227,365,000 after purchasing an additional 218,049 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Boeing in the second quarter worth $62,859,000. Kelman Lazarov Inc. bought a new position in shares of Boeing during the first quarter worth $262,000. Finally, Vanguard Group Inc. grew its holdings in shares of Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after buying an additional 1,212,327 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Buying and Selling

In related news, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BA. UBS Group reaffirmed a “buy” rating on shares of Boeing in a research note on Thursday, October 30th. Zacks Research cut shares of Boeing from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Sanford C. Bernstein increased their price objective on shares of Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. cut their price objective on shares of Boeing from $251.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Vertical Research upgraded Boeing from a “hold” rating to a “buy” rating and increased their target price for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.80.

Boeing Trading Down 0.5%

Shares of BA opened at $196.65 on Friday. The stock has a market capitalization of $149.47 billion, a price-to-earnings ratio of -14.38 and a beta of 1.44. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The firm has a fifty day simple moving average of $217.46 and a 200 day simple moving average of $213.49.

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

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.