Cim Investment Management Inc. Sells 5,502 Shares of The Boeing Company $BA

Cim Investment Management Inc. trimmed its holdings in The Boeing Company (NYSE:BAFree Report) by 50.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,363 shares of the aircraft producer’s stock after selling 5,502 shares during the period. Cim Investment Management Inc.’s holdings in Boeing were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SteelPeak Wealth LLC grew its position in Boeing by 50.4% during the third quarter. SteelPeak Wealth LLC now owns 26,360 shares of the aircraft producer’s stock worth $5,689,000 after buying an additional 8,833 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Boeing by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after acquiring an additional 1,118,316 shares in the last quarter. Patton Fund Management Inc. boosted its position in shares of Boeing by 734.4% during the 3rd quarter. Patton Fund Management Inc. now owns 10,322 shares of the aircraft producer’s stock valued at $2,228,000 after acquiring an additional 9,085 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Boeing by 3.3% during the 3rd quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock valued at $1,188,153,000 after acquiring an additional 177,597 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Boeing by 41.1% during the third quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock worth $48,316,000 after purchasing an additional 65,216 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

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Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 2,731 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $236.00, for a total value of $644,516.00. Following the completion of the transaction, the executive vice president directly owned 11,925 shares in the company, valued at $2,814,300. This trade represents a 18.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ann M. Schmidt sold 6,281 shares of Boeing stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $243.37, for a total transaction of $1,528,606.97. Following the transaction, the senior vice president directly owned 13,978 shares of the company’s stock, valued at approximately $3,401,825.86. This trade represents a 31.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 21,012 shares of company stock worth $4,980,687. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BA shares. Citigroup reissued a “buy” rating on shares of Boeing in a research note on Thursday, February 5th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Boeing in a report on Wednesday, January 28th. Weiss Ratings upgraded shares of Boeing from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, February 4th. New Street Research set a $257.00 target price on Boeing in a research note on Tuesday, December 9th. Finally, Royal Bank Of Canada raised their price target on Boeing from $265.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $246.14.

Get Our Latest Research Report on BA

Boeing Stock Down 1.2%

BA stock opened at $210.90 on Wednesday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $254.35. The company has a market capitalization of $165.63 billion, a price-to-earnings ratio of 104.93 and a beta of 1.14. The business’s 50 day moving average price is $234.52 and its two-hundred day moving average price is $218.84. The company has a debt-to-equity ratio of 8.37, a quick ratio of 0.40 and a current ratio of 1.19.

Boeing (NYSE:BAGet Free Report) last released its earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $10.32. The firm had revenue of $23.95 billion during the quarter, compared to analysts’ expectations of $22.41 billion. During the same quarter in the previous year, the business earned ($5.90) EPS. The company’s revenue for the quarter was up 57.1% compared to the same quarter last year. As a group, analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Boeing Profile

(Free Report)

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

See Also

Institutional Ownership by Quarter for Boeing (NYSE:BA)

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