Caitong International Asset Management Co. Ltd Decreases Stock Holdings in The Boeing Company $BA

Caitong International Asset Management Co. Ltd trimmed its position in shares of The Boeing Company (NYSE:BA) by 17.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,524 shares of the aircraft producer’s stock after selling 531 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Boeing were worth $529,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Revolve Wealth Partners LLC purchased a new position in shares of Boeing in the 4th quarter valued at approximately $201,000. GAMMA Investing LLC raised its position in shares of Boeing by 13.9% in the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer’s stock valued at $998,000 after purchasing an additional 716 shares during the last quarter. Consolidated Portfolio Review Corp raised its position in shares of Boeing by 8.0% in the 1st quarter. Consolidated Portfolio Review Corp now owns 1,451 shares of the aircraft producer’s stock valued at $247,000 after purchasing an additional 107 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in Boeing during the 1st quarter worth approximately $101,000. Finally, Wealth Effects LLC raised its position in Boeing by 1.7% during the 1st quarter. Wealth Effects LLC now owns 9,616 shares of the aircraft producer’s stock worth $1,640,000 after buying an additional 160 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BA. UBS Group set a $280.00 price target on shares of Boeing and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Barclays raised their price target on shares of Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Jefferies Financial Group set a $255.00 price target on shares of Boeing in a research report on Tuesday, September 30th. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and raised their price target for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Finally, Susquehanna reaffirmed a “positive” rating and set a $270.00 price objective on shares of Boeing in a research note on Monday, September 15th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average price target of $242.32.

Boeing Price Performance

Shares of NYSE BA opened at $217.52 on Friday. The stock has a market capitalization of $164.48 billion, a price-to-earnings ratio of -13.18 and a beta of 1.47. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The firm’s 50 day simple moving average is $221.97 and its 200-day simple moving average is $209.45.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analysts’ expectations of $20.13 billion. During the same quarter in the prior year, the company earned ($2.90) earnings per share. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. Analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal 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.