Sax Wealth Advisors LLC Sells 103 Shares of The Boeing Company $BA

Sax Wealth Advisors LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 7.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,295 shares of the aircraft producer’s stock after selling 103 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Boeing were worth $271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Piscataqua Savings Bank grew its holdings in shares of Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 137 shares during the last quarter. Proathlete Wealth Management LLC bought a new stake in Boeing in the first quarter valued at approximately $34,000. Monetary Management Group Inc. boosted its holdings in Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after acquiring an additional 50 shares during the last quarter. Dogwood Wealth Management LLC boosted its holdings in Boeing by 30.4% in the second quarter. Dogwood Wealth Management LLC now owns 240 shares of the aircraft producer’s stock valued at $52,000 after acquiring an additional 56 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in Boeing in the second quarter valued at approximately $61,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Bank of America upped their target price on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Morgan Stanley reiterated an “equal weight” rating on shares of Boeing in a report on Monday, July 28th. Barclays upped their target price on Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Jefferies Financial Group set a $255.00 price target on Boeing in a report on Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $233.91.

Insider Buying and Selling

In other news, Director Mortimer J. Buckley bought 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The shares were bought 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 $497,420. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Boeing Stock Down 3.9%

Shares of NYSE:BA opened at $216.48 on Friday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock’s 50 day moving average is $224.51 and its 200-day moving average is $205.99. The firm has a market capitalization of $163.69 billion, a price-to-earnings ratio of -13.11 and a beta of 1.47.

Boeing (NYSE:BA) last issued its earnings results 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 firm had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter last year, the firm earned ($2.90) earnings per share. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. Equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Boeing Company 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.