The Boeing Company $BA Shares Sold by Wells Trecaso Financial Group LLC

Wells Trecaso Financial Group LLC lowered its position in shares of The Boeing Company (NYSE:BA) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,725 shares of the aircraft producer’s stock after selling 1,623 shares during the quarter. Boeing comprises 1.6% of Wells Trecaso Financial Group LLC’s portfolio, making the stock its 22nd largest position. Wells Trecaso Financial Group LLC’s holdings in Boeing were worth $5,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BA. Revolve Wealth Partners LLC acquired a new stake in Boeing during the fourth quarter valued at approximately $201,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Boeing by 17.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,188 shares of the aircraft producer’s stock worth $885,000 after purchasing an additional 769 shares during the period. Chatham Capital Group Inc. raised its position in shares of Boeing by 19.3% during the 1st quarter. Chatham Capital Group Inc. now owns 3,403 shares of the aircraft producer’s stock worth $580,000 after purchasing an additional 550 shares during the period. Vest Financial LLC raised its position in shares of Boeing by 73.5% during the 1st quarter. Vest Financial LLC now owns 11,275 shares of the aircraft producer’s stock worth $1,923,000 after purchasing an additional 4,777 shares during the period. Finally, Foster Group Inc. raised its position in shares of Boeing by 3.8% during the 1st quarter. Foster Group Inc. now owns 3,346 shares of the aircraft producer’s stock worth $571,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

BA opened at $216.32 on Friday. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69. The stock has a market cap of $163.57 billion, a P/E ratio of -13.10 and a beta of 1.47. The stock’s 50 day moving average price is $225.06 and its 200 day moving average price is $204.76.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same quarter in the prior year, the company posted ($2.90) EPS. Boeing’s revenue for the quarter was up 34.9% compared to the same quarter last year. Equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BA. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a “buy” rating in a research report on Thursday, June 12th. Citigroup reiterated a “buy” rating on shares of Boeing in a research report on Monday, July 28th. UBS Group set a $280.00 price target on Boeing and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of Boeing in a research report on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Boeing in a research report on Saturday, September 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $233.91.

Insiders Place Their Bets

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $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. Company insiders own 0.09% of the company’s stock.

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.