Kovack Advisors Inc. Reduces Position in The Boeing Company $BA

Kovack Advisors Inc. cut its stake in shares of The Boeing Company (NYSE:BA) by 13.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 5,068 shares of the aircraft producer’s stock after selling 759 shares during the quarter. Kovack Advisors Inc.’s holdings in Boeing were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Wallace Advisory Group LLC grew its holdings in shares of Boeing by 1.2% during the second quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock valued at $748,000 after buying an additional 44 shares during the last quarter. Aspire Capital Advisors LLC grew its holdings in shares of Boeing by 0.8% during the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock valued at $1,245,000 after buying an additional 45 shares during the last quarter. Lantz Financial LLC grew its holdings in shares of Boeing by 1.5% during the second quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock valued at $644,000 after buying an additional 46 shares during the last quarter. Atlas Brown Inc. grew its holdings in shares of Boeing by 0.7% during the second quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock valued at $1,362,000 after buying an additional 48 shares during the last quarter. Finally, Moody National Bank Trust Division grew its holdings in shares of Boeing by 2.7% during the second quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer’s stock valued at $385,000 after buying an additional 48 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

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 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 is available in the SEC filing. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Performance

Shares of Boeing stock opened at $201.24 on Friday. The firm has a 50-day simple moving average of $220.17 and a two-hundred day simple moving average of $212.37. The company has a market cap of $152.17 billion, a P/E ratio of -14.71 and a beta of 1.47. 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 Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The business had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the prior year, the business posted ($10.44) EPS. Equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Bank of America upped their price target on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. Sanford C. Bernstein upped their price target on shares of Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Finally, UBS Group reaffirmed a “buy” rating on shares of Boeing in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $242.79.

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.