Interchange Capital Partners LLC Decreases Stock Position in The Boeing Company $BA

Interchange Capital Partners LLC lessened its stake in The Boeing Company (NYSE:BA) by 7.2% in the second quarter, Holdings Channel reports. The fund owned 1,434 shares of the aircraft producer’s stock after selling 111 shares during the quarter. Boeing makes up about 0.3% of Interchange Capital Partners LLC’s holdings, making the stock its 27th biggest holding. Interchange Capital Partners LLC’s holdings in Boeing were worth $300,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BA. Revolve Wealth Partners LLC purchased a new position in Boeing in the 4th quarter worth approximately $201,000. GAMMA Investing LLC boosted its holdings in Boeing by 13.9% in the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer’s stock worth $998,000 after acquiring an additional 716 shares during the period. Ritholtz Wealth Management boosted its holdings in Boeing by 103.5% in the 1st quarter. Ritholtz Wealth Management now owns 10,062 shares of the aircraft producer’s stock worth $1,716,000 after acquiring an additional 5,117 shares during the period. Good Life Advisors LLC boosted its holdings in Boeing by 3.0% in the 1st quarter. Good Life Advisors LLC now owns 7,618 shares of the aircraft producer’s stock worth $1,299,000 after acquiring an additional 222 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in Boeing in the 1st quarter worth approximately $24,207,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Activity at Boeing

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

Boeing Trading Down 0.6%

BA stock opened at $214.31 on Wednesday. The firm has a market cap of $162.05 billion, a P/E ratio of -12.98 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 stock’s 50 day simple moving average is $223.95 and its 200 day simple moving average is $206.92.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The company’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.90) earnings per share. On average, research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BA shares. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. UBS Group set a $280.00 target price on Boeing and gave the company a “buy” rating in a research note on Wednesday, July 30th. Redburn Atlantic upgraded Boeing from a “hold” rating to a “strong-buy” rating and increased their target price for the company from $180.00 to $275.00 in a research note on Friday, June 27th. KGI Securities upgraded Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $240.20.

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.