The Boeing Company $BA Position Reduced by Prospect Financial Services LLC

Prospect Financial Services LLC decreased its stake in shares of The Boeing Company (NYSE:BA) by 8.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 42,449 shares of the aircraft producer’s stock after selling 3,885 shares during the period. Boeing comprises approximately 5.3% of Prospect Financial Services LLC’s holdings, making the stock its 3rd largest position. Prospect Financial Services LLC’s holdings in Boeing were worth $8,894,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wallace Advisory Group LLC raised its stake 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 acquiring an additional 44 shares in the last quarter. Aspire Capital Advisors LLC increased its holdings in Boeing by 0.8% during the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock worth $1,245,000 after purchasing an additional 45 shares during the period. Lantz Financial LLC raised its position in Boeing by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock valued at $644,000 after purchasing an additional 46 shares in the last quarter. Blue Barn Wealth LLC lifted its holdings in shares of Boeing by 1.8% in the 2nd quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock worth $544,000 after buying an additional 46 shares during the period. Finally, Atlas Brown Inc. grew its position in shares of Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock worth $1,362,000 after buying an additional 48 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BA. Loop Capital set a $223.00 price objective on Boeing in a report on Monday, November 3rd. Zacks Research downgraded shares of Boeing from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 29th. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and upped their price target for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Bank of America increased their price objective on shares of Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, UBS Group reissued a “buy” rating on shares of Boeing in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.05.

Boeing Stock Down 0.4%

Shares of Boeing stock opened at $194.67 on Friday. The company has a market cap of $147.96 billion, a P/E ratio of -14.23 and a beta of 1.44. The firm’s 50 day moving average price is $213.55 and its 200-day moving average price is $214.37. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion for the quarter, compared to the consensus estimate of $21.61 billion. During the same period last year, the firm earned ($10.44) earnings per share. The firm’s revenue was up 30.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares in the company, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.09% of the stock is owned by company insiders.

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.