Narwhal Capital Management Has $590,000 Holdings in The Boeing Company $BA

Narwhal Capital Management cut its holdings in The Boeing Company (NYSE:BA) by 12.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,818 shares of the aircraft producer’s stock after selling 409 shares during the period. Narwhal Capital Management’s holdings in Boeing were worth $590,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of BA. Revolve Wealth Partners LLC acquired a new position in shares of Boeing in the fourth quarter valued at about $201,000. Park Avenue Securities LLC grew its stake in Boeing by 16.0% during the first quarter. Park Avenue Securities LLC now owns 13,319 shares of the aircraft producer’s stock worth $2,272,000 after buying an additional 1,833 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Boeing by 44.6% during the first quarter. Farther Finance Advisors LLC now owns 10,803 shares of the aircraft producer’s stock worth $1,817,000 after buying an additional 3,330 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in Boeing by 12.2% during the first quarter. Pallas Capital Advisors LLC now owns 2,456 shares of the aircraft producer’s stock worth $419,000 after buying an additional 267 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Boeing by 13.9% during the first quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer’s stock worth $998,000 after buying an additional 716 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein increased their price objective on shares of Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on shares of Boeing from $230.00 to $251.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Finally, Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $233.91.

Insider Buying and Selling

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

Boeing Trading Up 1.6%

BA stock opened at $225.26 on Thursday. The stock has a market capitalization of $170.33 billion, a P/E ratio of -13.64 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 has a 50-day moving average price of $224.61 and a 200-day moving average price of $205.75.

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