Bedell Frazier Investment Counselling LLC Has $1.73 Million Stock Position in The Boeing Company $BA

Bedell Frazier Investment Counselling LLC lowered its stake in shares of The Boeing Company (NYSE:BA) by 16.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,241 shares of the aircraft producer’s stock after selling 1,618 shares during the quarter. Bedell Frazier Investment Counselling LLC’s holdings in Boeing were worth $1,727,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BA. Vanguard Group Inc. increased its holdings in shares of Boeing by 1.7% in the second quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after purchasing an additional 1,118,316 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Boeing by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock valued at $3,402,073,000 after buying an additional 432,026 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Boeing by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after buying an additional 19,615 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Boeing by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock worth $500,247,000 after acquiring an additional 91,707 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Boeing by 2.5% during the first quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock valued at $359,895,000 after acquiring an additional 51,700 shares during the period. 64.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on BA shares. Citigroup reissued a “buy” rating on shares of Boeing in a report on Monday, July 28th. UBS Group reissued a “buy” rating on shares of Boeing in a research note on Thursday, October 30th. Bank of America increased their price objective on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. JPMorgan Chase & Co. lowered their target price on shares of Boeing from $251.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Loop Capital set a $223.00 target price on shares of Boeing in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $240.30.

Boeing Stock Performance

Shares of NYSE:BA opened at $192.01 on Tuesday. The company has a 50 day moving average price of $212.07 and a two-hundred day moving average price of $214.96. The company has a market capitalization of $145.94 billion, a PE ratio of -14.04 and a beta of 1.44. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $242.69.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. During the same period in the prior year, the company posted ($10.44) EPS. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. On average, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the sale, the executive vice president directly owned 14,656 shares in the company, valued at $2,896,904.96. This trade represents a 8.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

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.