Jacobs & Co. CA Decreases Stake in The Boeing Company $BA

Jacobs & Co. CA reduced its stake in shares of The Boeing Company (NYSE:BA) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,131 shares of the aircraft producer’s stock after selling 353 shares during the period. Jacobs & Co. CA’s holdings in Boeing were worth $12,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BA. Zimmer Partners LP acquired a new stake in shares of Boeing during the fourth quarter worth $393,736,000. Sculptor Capital LP acquired a new stake in shares of Boeing during the fourth quarter worth $265,500,000. Vanguard Group Inc. lifted its stake in shares of Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock worth $11,197,468,000 after buying an additional 1,212,327 shares during the period. GAMMA Investing LLC lifted its stake in shares of Boeing by 19,333.1% during the first quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer’s stock worth $170,190,000 after buying an additional 992,753 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Boeing during the first quarter worth $98,984,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boeing

In other news, Director Mortimer J. Buckley acquired 2,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the transaction, the director owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Performance

Shares of Boeing stock opened at $216.12 on Friday. The firm has a 50-day simple moving average of $228.76 and a two-hundred day simple moving average of $199.21. The company has a market cap of $163.42 billion, a P/E ratio of -13.09 and a beta of 1.48. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. Jefferies Financial Group lifted their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Susquehanna boosted their target price on shares of Boeing from $265.00 to $270.00 and gave the company a “positive” rating in a research report on Wednesday, July 30th. TD Securities downgraded shares of Boeing to a “cautious” rating in a research report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $230.77.

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.