The Boeing Company (NYSE:BA) Shares Sold by Herbst Group LLC

Herbst Group LLC lessened its holdings in shares of The Boeing Company (NYSE:BA) by 2.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,100 shares of the aircraft producer’s stock after selling 400 shares during the quarter. Boeing comprises about 2.3% of Herbst Group LLC’s holdings, making the stock its 14th biggest holding. Herbst Group LLC’s holdings in Boeing were worth $3,400,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. United Bank raised its stake in Boeing by 4.7% in the first quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock valued at $964,000 after buying an additional 226 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Boeing by 1,064.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock valued at $163,000 after buying an additional 777 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Boeing by 68.0% in the first quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock valued at $1,362,000 after buying an additional 2,879 shares in the last quarter. Prudential PLC acquired a new stake in Boeing during the first quarter worth approximately $836,000. Finally, Dakota Wealth Management raised its holdings in Boeing by 26.7% during the first quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock worth $408,000 after purchasing an additional 448 shares in the last quarter. Institutional investors and hedge funds own 61.33% of the company’s stock.

Boeing Trading Down 0.4 %

BA stock traded down $0.75 on Tuesday, reaching $204.37. 768,901 shares of the company’s stock were exchanged, compared to its average volume of 5,612,979. The stock has a fifty day moving average of $223.54 and a 200-day moving average of $213.09. The Boeing Company has a twelve month low of $120.99 and a twelve month high of $243.10.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 26th. The aircraft producer reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($0.99) by $0.17. The company had revenue of $19.75 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter in the previous year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -2.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on BA. SpectralCast reissued a “reiterates” rating on shares of Boeing in a report on Wednesday, June 21st. TheStreet upgraded Boeing from a “d+” rating to a “c-” rating in a research report on Tuesday, August 15th. Bank of America upgraded Boeing from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $225.00 to $300.00 in a research report on Thursday, July 27th. Wells Fargo & Company lifted their target price on Boeing from $250.00 to $270.00 in a research report on Tuesday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on Boeing from $225.00 to $245.00 in a research report on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average price target of $245.13.

Insider Buying and Selling at Boeing

In other Boeing news, CEO Theodore Colbert III sold 8,500 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total value of $2,026,145.00. Following the sale, the chief executive officer now owns 59,255 shares of the company’s stock, valued at $14,124,614.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boeing news, Director Steven M. Mollenkopf purchased 850 shares of the stock in a transaction dated Monday, July 31st. The shares were acquired at an average cost of $237.00 per share, for a total transaction of $201,450.00. Following the completion of the transaction, the director now directly owns 3,767 shares of the company’s stock, valued at $892,779. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Theodore Colbert III sold 8,500 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $238.37, for a total transaction of $2,026,145.00. Following the completion of the sale, the chief executive officer now owns 59,255 shares in the company, valued at $14,124,614.35. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.