Newport Trust Company LLC Sells 160,390 Shares of The Boeing Company $BA

Newport Trust Company LLC trimmed its stake in shares of The Boeing Company (NYSE:BAFree Report) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,540,342 shares of the aircraft producer’s stock after selling 160,390 shares during the quarter. Boeing accounts for 13.4% of Newport Trust Company LLC’s portfolio, making the stock its 2nd largest holding. Newport Trust Company LLC owned approximately 4.05% of Boeing worth $5,208,655,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BA. American National Bank & Trust boosted its holdings in Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after purchasing an additional 128 shares in the last quarter. REAP Financial Group LLC boosted its holdings in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after purchasing an additional 65 shares in the last quarter. Dogwood Wealth Management LLC boosted its holdings in Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in Boeing during the fourth quarter valued at approximately $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Boeing by 122.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 191 shares of the aircraft producer’s stock valued at $34,000 after purchasing an additional 105 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

BA stock opened at $224.2460 on Friday. The company has a 50 day moving average price of $220.58 and a 200 day moving average price of $193.88. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The stock has a market capitalization of $169.57 billion, a PE ratio of -13.58 and a beta of 1.48.

Boeing (NYSE:BAGet Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the business earned ($2.90) EPS. Boeing’s revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the business’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. The trade was a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the transaction, the director directly 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. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BA shares. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from $180.00 to $275.00 in a report on Friday, June 27th. Citigroup reiterated a “buy” rating on shares of Boeing in a research note on Monday, July 28th. KGI Securities upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen cut shares of Boeing from a “hold” rating to a “sell” rating in a research note on Saturday, May 17th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $228.90.

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Boeing Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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