Boeing (NYSE:BA) EVP David Christopher Raymond Sells 2,994 Shares of Company Stock

The Boeing Company (NYSE:BA) EVP David Raymond sold 2,994 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $174.91, for a total transaction of $523,680.54. Following the completion of the transaction, the executive vice president directly owned 38,456 shares of the company’s stock, valued at approximately $6,726,338.96. The trade was a 7.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Boeing Stock Performance

NYSE BA opened at $171.53 on Friday. The Boeing Company has a 52-week low of $165.01 and a 52-week high of $254.35. The company has a debt-to-equity ratio of 6.31, a quick ratio of 0.34 and a current ratio of 1.13. The company has a market capitalization of $135.93 billion, a P/E ratio of 18.66 and a beta of 1.34. The company has a fifty day moving average of $189.59 and a 200-day moving average of $213.86.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.09). The company had revenue of $24.19 billion during the quarter, compared to analysts’ expectations of $23.95 billion. Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted ($7.47) earnings per share. As a group, equities research analysts predict that The Boeing Company will post -1.84 EPS for the current fiscal year.

Latest Boeing News

These are some of the BA news items that stood out recently:

• Negative Sentiment: Recent coverage points to production delays, labor shortages, and 777X setbacks as risks to Boeing’s recovery, despite its backlog and defense business. Article: Boeing Stock Drops 25.6% in 3 Months
• Negative Sentiment: Put-option volume was about 65% above its usual level, suggesting heightened demand for downside protection, although options activity alone does not establish a bearish outlook.
• Negative Sentiment: A law firm announced an investigation into possible securities-law violations. The announcement is an allegation and does not establish wrongdoing, but may add legal and reputational uncertainty. Article: Investigation into Possible Securities-Law Violations

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BA. Zacks Research cut Boeing from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. UBS Group decreased their price objective on Boeing from $275.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Bank of America restated a “buy” rating and issued a $270.00 target price on shares of Boeing in a research report on Friday, September 18th. Oppenheimer downgraded Boeing to a “market perform” rating in a research report on Wednesday, October 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of Boeing in a research note on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $247.88.

Institutional Trading of Boeing

Hedge funds have recently added to or reduced their stakes in the business. SteelPeak Wealth LLC increased its position in shares of Boeing by 660.0% in the third quarter. SteelPeak Wealth LLC now owns 94,976 shares of the aircraft producer’s stock valued at $17,670,000 after acquiring an additional 82,479 shares during the period. McAlister Sweet & Associates Inc. boosted its holdings in shares of Boeing by 57.2% during the third quarter. McAlister Sweet & Associates Inc. now owns 45,420 shares of the aircraft producer’s stock worth $8,450,000 after purchasing an additional 16,531 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of Boeing by 16.0% during the second quarter. Integrated Wealth Concepts LLC now owns 42,417 shares of the aircraft producer’s stock worth $9,182,000 after purchasing an additional 5,862 shares during the period. T3 Companies LLC boosted its holdings in shares of Boeing by 1,487.1% during the third quarter. T3 Companies LLC now owns 17,458 shares of the aircraft producer’s stock worth $3,248,000 after purchasing an additional 16,358 shares during the period. Finally, Mather Group LLC. grew its stake in shares of Boeing by 347.3% in the third quarter. Mather Group LLC. now owns 23,183 shares of the aircraft producer’s stock worth $4,313,000 after purchasing an additional 18,000 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

About Boeing

The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world. Boeing’s defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.