Beacon Pointe Advisors LLC Lowers Stock Holdings in The Boeing Company $BA

Beacon Pointe Advisors LLC cut its holdings in shares of The Boeing Company (NYSE:BA) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,724 shares of the aircraft producer’s stock after selling 6,583 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Boeing were worth $13,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wallace Advisory Group LLC boosted its position in shares of Boeing by 1.2% in the second quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock worth $748,000 after acquiring an additional 44 shares during the last quarter. Aspire Capital Advisors LLC boosted its holdings in shares of Boeing by 0.8% in the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock valued at $1,245,000 after purchasing an additional 45 shares during the last quarter. Lantz Financial LLC grew its stake in shares of Boeing by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock valued at $644,000 after buying an additional 46 shares during the period. Blue Barn Wealth LLC increased its holdings in shares of Boeing by 1.8% during the 2nd quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock worth $544,000 after buying an additional 46 shares during the last quarter. Finally, Atlas Brown Inc. raised its position in shares of Boeing by 0.7% in the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock worth $1,362,000 after buying an additional 48 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Uma M. Amuluru sold 1,366 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the transaction, the executive vice president owned 14,656 shares in the company, valued at $2,896,904.96. The trade was a 8.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Dana S. Deasy bought 554 shares of the business’s stock in a transaction on Monday, November 24th. The stock was bought at an average price of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the purchase, the senior vice president directly owned 28,442 shares of the company’s stock, valued at $5,087,704.96. The trade was a 1.99% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BA has been the subject of a number of research reports. Loop Capital set a $223.00 price target on Boeing in a research report on Monday, November 3rd. Sanford C. Bernstein reissued an “outperform” rating and set a $267.00 target price on shares of Boeing in a research report on Friday, November 14th. Zacks Research cut shares of Boeing from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price objective for the company. in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Boeing in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $232.09.

Boeing Stock Performance

Boeing stock opened at $205.42 on Wednesday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The firm’s 50-day moving average is $205.12 and its 200-day moving average is $214.28. The company has a market cap of $156.14 billion, a P/E ratio of -15.02 and a beta of 1.18.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share 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 previous year, the company posted ($10.44) earnings per share. The firm’s revenue was up 30.4% on a year-over-year basis. As a group, sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

About Boeing

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.