Financial Gravity Asset Management Inc. lessened its holdings in shares of The Boeing Company (NYSE:BA – Get Rating) by 66.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,349 shares of the aircraft producer’s stock after selling 2,626 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Boeing were worth $163,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Tevis Investment Management lifted its stake in shares of Boeing by 69.6% during the second quarter. Tevis Investment Management now owns 195 shares of the aircraft producer’s stock worth $27,000 after purchasing an additional 80 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Boeing during the 3rd quarter valued at about $33,000. Beaird Harris Wealth Management LLC lifted its position in Boeing by 61.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 328 shares of the aircraft producer’s stock worth $40,000 after acquiring an additional 125 shares in the last quarter. Moisand Fitzgerald Tamayo LLC boosted its holdings in Boeing by 46.4% in the 2nd quarter. Moisand Fitzgerald Tamayo LLC now owns 366 shares of the aircraft producer’s stock worth $50,000 after acquiring an additional 116 shares during the period. Finally, West Financial Advisors LLC grew its position in Boeing by 116.5% in the third quarter. West Financial Advisors LLC now owns 433 shares of the aircraft producer’s stock valued at $52,000 after acquiring an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 57.07% of the company’s stock.
Insider Transactions at Boeing
In related news, CEO David L. Calhoun acquired 25,000 shares of Boeing stock in a transaction that occurred on Friday, November 4th. The stock was acquired at an average price of $158.88 per share, for a total transaction of $3,972,000.00. Following the transaction, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at approximately $3,972,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Steven M. Mollenkopf bought 1,285 shares of the firm’s stock in a transaction on Friday, November 4th. The stock was purchased at an average price of $157.09 per share, for a total transaction of $201,860.65. Following the transaction, the director now owns 2,917 shares in the company, valued at $458,231.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David L. Calhoun purchased 25,000 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were acquired at an average cost of $158.88 per share, for a total transaction of $3,972,000.00. Following the acquisition, the chief executive officer now owns 25,000 shares of the company’s stock, valued at approximately $3,972,000. The disclosure for this purchase can be found here. Insiders own 0.11% of the company’s stock.
Boeing Stock Performance
Boeing (NYSE:BA – Get Rating) last released its quarterly earnings data on Wednesday, October 26th. The aircraft producer reported ($6.18) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($6.17). The company had revenue of $15.96 billion for the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter last year, the business posted ($0.60) EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts expect that The Boeing Company will post -8.88 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms have recently commented on BA. Jefferies Financial Group set a $240.00 target price on shares of Boeing in a research report on Monday, January 9th. JPMorgan Chase & Co. upped their price objective on shares of Boeing from $200.00 to $207.00 and gave the company an “overweight” rating in a research report on Wednesday, January 11th. Redburn Partners assumed coverage on Boeing in a research report on Monday, November 7th. They set a “neutral” rating on the stock. Credit Suisse Group upgraded Boeing from an “underperform” rating to a “neutral” rating and set a $200.00 price target on the stock in a research note on Thursday, January 12th. Finally, Bank of America raised their price objective on Boeing from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Wednesday, December 7th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $222.53.
The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.
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