Summit Financial Wealth Advisors LLC decreased its holdings in shares of The Boeing Company (NYSE:BA – Free Report) by 22.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,145 shares of the aircraft producer’s stock after selling 614 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Boeing were worth $453,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its stake in Boeing by 8.1% during the first quarter. BlackRock Inc. now owns 35,950,526 shares of the aircraft producer’s stock worth $7,636,970,000 after acquiring an additional 2,682,272 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in Boeing by 109,667.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock worth $3,058,456,000 after acquiring an additional 16,041,103 shares in the last quarter. Geode Capital Management LLC raised its stake in Boeing by 2.3% during the first quarter. Geode Capital Management LLC now owns 9,908,984 shares of the aircraft producer’s stock worth $2,099,342,000 after acquiring an additional 224,280 shares in the last quarter. Morgan Stanley increased its stake in shares of Boeing by 11.7% in the fourth quarter. Morgan Stanley now owns 8,321,871 shares of the aircraft producer’s stock valued at $1,585,234,000 after buying an additional 872,795 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Boeing by 734.7% in the first quarter. Fisher Asset Management LLC now owns 4,359,740 shares of the aircraft producer’s stock valued at $926,140,000 after buying an additional 3,837,422 shares during the period. Institutional investors and hedge funds own 61.33% of the company’s stock.
Boeing Price Performance
Shares of Boeing stock traded down $0.67 on Tuesday, reaching $204.45. 700,949 shares of the company’s stock were exchanged, compared to its average volume of 5,612,979. The Boeing Company has a 52 week low of $120.99 and a 52 week high of $243.10. The firm’s 50-day moving average is $223.54 and its two-hundred day moving average is $213.09.
Insider Buying and Selling
In other news, Director Steven M. Mollenkopf bought 850 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were bought at an average cost of $237.00 per share, for a total transaction of $201,450.00. Following the acquisition, the director now directly owns 3,767 shares in the company, valued at $892,779. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Boeing news, CEO Theodore Colbert III sold 8,500 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total transaction of $2,026,145.00. Following the transaction, the chief executive officer now directly owns 59,255 shares in the company, valued at approximately $14,124,614.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven M. Mollenkopf acquired 850 shares of the company’s stock in a transaction on Monday, July 31st. The shares were bought at an average price of $237.00 per share, for a total transaction of $201,450.00. Following the completion of the purchase, the director now owns 3,767 shares in the company, valued at approximately $892,779. The disclosure for this purchase can be found here. 0.15% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several research analysts have recently issued reports on BA shares. Citigroup reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Boeing in a research note on Monday. Wells Fargo & Company upped their price objective on Boeing from $250.00 to $270.00 in a research note on Tuesday, August 8th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research note on Tuesday, August 1st. Morgan Stanley upped their price objective on Boeing from $220.00 to $235.00 in a research note on Thursday, July 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Boeing from $225.00 to $245.00 in a research report on Thursday, July 27th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $245.13.
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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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